Bayesian Modeling and Computations in Final-Offer Arbitration

Tim Swartz

Journal of Business & Economic Statistics, 2003, vol. 21, issue 1, 74-79

Abstract: This article develops a Bayesian model for the analysis of bidding behavior in final-offer arbitration. Posterior calculations are obtained using a Markov chain algorithm. An example is considered using salary data from Major League Baseball.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:21:y:2003:i:1:p:74-79

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