FURTHER EXPERIENCE IN BAYESIAN ANALYSIS USING MONTE CARLO INTEGRATION

Herman van Dijk and T. Kloek

No 272261, Econometric Institute Archives from Erasmus University Rotterdam

Abstract: An earlier paper [Kloek and Van Dijk (1978)] is extended in three ways. First, Monte Carlo integration is performed in a nine-dimensional parameter space of Klein's podel I [Klein (1950)]. Second, Monte Carlo is used as a tool for the elicitation of a uniform prior on a finite region by making use of several types of prior information. Third, special attention is given to procedures for the construction of importance functions which make use of nonlinear optimization methods.

Keywords: Agricultural and Food Policy; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 30
Date: 1980-06
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Citations: View citations in EconPapers (52)

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Related works:
Journal Article: Further experience in Bayesian analysis using Monte Carlo integration (1980)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:eureia:272261

DOI: 10.22004/ag.econ.272261

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