Bayesian Approach Beats Maximum Likelihood in Estimating Bernoulli Parameters.
The study compared different methods for estimating the success rate in experiments with Bernoulli distributions. They used maximum likelihood estimation and Bayesian approaches, which include Bayes' and Markov Chain Monte Carlo methods. By simulating data with different parameters and sample sizes, they found that the Bayesian method provided better estimates for both point and interval estimations compared to the standard maximum likelihood method.