Calculates the optimal level of significance based on a decision-theoretic approach.
The optimal level is chosen so that the expected loss from hypothesis testing is minimized.
A range of statistical tests are covered, including the test for the population mean, population proportion, and a linear restriction in a multiple regression model.
The details are covered in Kim, Jae H. and Choi, In, 2019, Choosing the Level of Significance: A Decision-Theoretic Approach, Abacus.
See also Kim and Ji (2015)