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We first analyse the general problem of admissible conditioning and next consider the evaluation of the loss of information when a non-admissible conditioning is used as an approximation of the exact posterior distribution. Considering the case of Fisher test, we evaluate from a Bayesian point...
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An encompassing test between two models is based on the idea that the first model is able to explain the inference obtained by the second model. In a Bayesian Framework, the posterior distribution of the second model will then be compared to the posterior distribution built in hte first model...
Persistent link: https://www.econbiz.de/10005639390
In this paper, we develop a Bayesian analysis of semi-parametric binary choice model. The prior specification of the functional parameter, namely the distribution function of a latent variable, is of the Dirichlet process type and the prior specification of the Euclidean parameter, namely the...
Persistent link: https://www.econbiz.de/10005625689
We propose a structural econometric evaluation for auctions with discrete increments. Although very common in practice, this kind of mechanism raises many theoretical difficulties. First, there are no closed form equilibriumstrategies. Thus the econometrician cannot rely on a single formula to...
Persistent link: https://www.econbiz.de/10005478908
In this paper, we study maximum likelihood estimation and Lagrange multiplier testing of a one-way error components regression model suitable for incomplete panel and including parametrically specified variance functions for both individual-specific and general error disturbances.
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The notion of disapprobation is defined. It is designed to capture some features of misspecification in a decision-theoretic framework. Moreover, it is a sample-based notion so it is well-suited for the study of misspecification in Bayesian contexts. Some elementary examples of disapprobation...
Persistent link: https://www.econbiz.de/10005669262