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Subject
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Bayesian analysis 1 Shannon's mutual information 1 historical data 1 normalized power prior 1 power prior 1 prior elicitation 1
Online availability
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Free 1
Type of publication
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Book / Working Paper 1
Language
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English 1
Author
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Duan, Yuyan 1 Ye, Keying 1
Institution
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College of Business, University of Texas-San Antonio 1
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Working Papers / College of Business, University of Texas-San Antonio 1
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RePEc 1
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Normalized Power Prior Bayesian Analysis
Ye, Keying; Duan, Yuyan - College of Business, University of Texas-San Antonio
The elicitation of power prior distributions is based on the availability of historical data, and is realized by raising the likelihood function of the historical data to a fractional power. However, an arbitrary positive constant before the like- lihood function of the historical data could...
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