This paper presents a comprehensive review and comparison of five computational methods for Bayesian model selection, based on MCMC simulations from posterior model parameter distributions. We apply these methods to a well-known and important class of models in financial time series analysis,...

This paper studies the dynamics of an asset pricing model based on simple deterministic agents.

In this paper we head for a fully Bayesian analysis of the latent class model with a priori unknown number of classes. Estimation is carried out by means of Markov Chain Monte Carlo (MCMC) methods. We deal explicitely with the consequences the unidentifiability of this type of model has on MCMC...

In the present paper we consider Bayesian estimation of a finite mixture of models with random effects which is also known as the heterogeneity model. First, we discuss the properties of various MCMC samplers that are obtained from full conditional Gibbs sampling by grouping and collapsing.(...)

In this paper we carry out fully Bayesian analysis of the general heterogeneity model, which is a mixture of random effects model, and its special cases, the random coefficient model and the latent class model. Our application comes from Conjoint analysis and we are especially interested in what...

We consider a model of evolution with mutations as in Kandori et al. (1993) [Kandori, M., Mailath, G.J., Rob, R., 1993. Learning, mutation, and long run equilibria in games. Econometrica 61, 29–56], where agents follow best-response decision rules as in Sandholm (1998) [Sandholm, W., 1998....

In the present article we propose a spatial micro econometric approach for studying the geographical concentration of economic activities. We analyse the incentives to use this approach rather than the traditional one based on regional aggregates. As an example, we present our prototypical...

We propose an alternative method for measuring intergenerational mobility. Traditional methods based on panel data provide measurements that are scarce, difficult to compare across countries and almost impossible to get across time. In particular this means that we do not know how...

We consider a model of evolution with mutations as in Kandori et al. (1993) [Kandori, M., Mailath, G.J., Rob, R., 1993. Learning, mutation, and long run equilibria in games. Econometrica 61, 29–56], where agents follow best-response decision rules as in Sandholm (1998) [Sandholm, W., 1998....

We propose a new methodology for measuring intergenerational mobility in economic wellbeing. Our method is based on the joint distribution of surnames and economic outcomes. It circumvents the need for intergenerational panel data, a long-standing stumbling block for understanding mobility. A...