Methodologies and Techniques in Bayesian Econometrics

von Piers Ince

298 Seiten, Hardcover

Kurzbeschreibung des Verlags

"Methodologies and Techniques in Bayesian Econometrics explores the crucial role of Bayesian inference in modern economic analysis, particularly where traditional econometric approaches often struggle. These limitations include handling complex data structures, working with limited sample sizes, and effectively incorporating valuable prior knowledge. Bayesian methods, in contrast, offer a powerful and coherent framework for statistical modeling. They enable direct probability statements about parameters, moving beyond mere point estimates, and facilitate more flexible model specification, thereby addressing these challenges effectively.This comprehensive book systematically introduces the foundations of Bayesian probability, including Bayes' theorem, estimation, and hypothesis testing. It delves into predictive methods for forecasting, the critical aspect of choosing appropriate prior distributions, and essential asymptotic approximations for complex models. Comprehensive coverage includes Bayesian linear regression, advanced hierarchical, latent, and mixture models, alongside Bayesian time series analysis. Crucially, it details fundamental computational techniques like Monte Carlo integration and Markov Chain Monte Carlo (MCMC) algorithms, such as Gibbs sampling and Metropolis-Hastings, and addresses model uncertainty through Bayesian model averaging and selection. This makes it an ideal resource for graduate students, researchers, and practitioners in econometrics, statistics, and related quantitative fields.

• Themen: Mathematik und Naturwissenschaften Mathematik Wahrscheinlichkeitsrechnung und Statistik Bayesianische Inferenz
• ISBN: 9798887156859
• Sprache: Englisch
• Erscheinungsdatum: 01.08.2026
• Größe: 260 x 183 mm
• Verlag: Oryson Press