A Note on Lenk’s Correction of the Harmonic Mean Estimator

Anna Pajor and Jacek Osiewalski

Central European Journal of Economic Modelling and Econometrics, 2013, vol. 5, issue 4, 271-275

Abstract: The paper refines Lenk’s concept of improving the performance of the computed harmonic mean estimator (HME) in three directions. First, the adjusted HME is derived from an exact analytical identity. Second, Lenk’s assumption concerning the appropriate subset A of the parameter space is significantly weakened. Third, it is shown that, under certain restrictions imposed on A, a fundamental identity underlying the HME also holds for improper prior densities, which substantially extends applicability of the adjusted HME.

Keywords: Bayesian inference; marginal data density; MCMC methods (search for similar items in EconPapers)
JEL-codes: C11 C15 (search for similar items in EconPapers)
Date: 2013
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:psc:journl:v:5:y:2013:i:4:p:271-275

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