This paper applies the newly suggested Markov chained Monte Carlo Surface Sampling Algorithm of Zappa estimating European discount factors and relative risk aversions for the CRRA utility functions based on the consumption capital asset pricing model (CCAPM). The relatively challenging...

Nonlinear regression models are extensively applied across various scientific disciplines. It is vital to accurately fit the optimal nonlinear model while considering the biases of the Bayesian optimal design. We present a Bayesian optimal design by utilising the Dirichlet process as a prior....