Rejection sampling in demand systems

Eduardo Ley and Mark Steel

DES - Working Papers. Statistics and Econometrics. WS from Universidad Carlos III de Madrid. Departamento de Estadística

Abstract: We illustrate the method of rejection sampling in a Bayesian application of a new approach toı estimating Demand Systems. This approach, suggested by Varian (1990), is based on a generalization of Afriat's (1967) efficiency index. Rejection sampling is applied to the prior-to-posterior mapping enabling us to obtain posterior results in a nonstandard model.

Keywords: Efficiency; Rejection; sampling; Bayesian; methods; Demand; systems (search for similar items in EconPapers)
Date: 1992-12
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Persistent link: https://EconPapers.repec.org/RePEc:cte:wsrepe:3674

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