Bayesian Analysis for Binomial Models with Generalized Beta Prior Distributions

James J. Chen and Melvin R. Novick

Journal of Educational and Behavioral Statistics, 1984, vol. 9, issue 2, 163-175

Abstract: The Libby-Novick class of three-parameter generalized beta distributions is shown to provide a rich class of prior distributions for the binomial model that removes some of the restrictions of the standard beta class. The posterior distribution defines a new class of four-parameter generalized beta distributions for which numerical posterior analysis is easily done. A numerical example indicates the desirability of using these wider classes of densities for binomial models, particularly in an interactive computing environment.

Keywords: Generalized beta distribution; nonconjugate priors; binomial models; Bayesian analysis (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jedbes:v:9:y:1984:i:2:p:163-175

DOI: 10.3102/10769986009002163

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