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Bayesian Economics Through Numerical Methods

A Guide to Econometrics and Decision-Making with Prior Information

  • Textbook
  • © 1997

Overview

Authors:
  1. Jeffrey H. Dorfman

    1. Department of Agricultural and Applied Economics, University of Georgia, Athens, USA

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-vii
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  2. Introduction

    1. Introduction

      Pages 1-3

  4. Applications in Econometrics

    1. Front Matter

      Pages 29-29
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    2. Imposing Economic Theory

      Pages 30-40

    3. Studying Parameters of Interest

      Pages 41-48

    4. Unit Root and Cointegration Tests

      Pages 49-63

    5. Model Specification Uncertainty

      Pages 64-71

    6. Forecasting

      Pages 72-81

    7. More Realistic Models Through Numerical Methods

      Pages 82-86

  5. Applications to Economic Decision Making

    1. Front Matter

      Pages 87-87
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    2. Decision Theory Applications

      Pages 88-96

  6. Back Matter

    Pages 97-110
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Keywords

About this book

The aim of this book is to provide researchers in economics, finance, and statistics with an up-to-date introduction to applying Bayesian techniques to empirical studies. It covers the full range of the new numerical techniques which have been developed over the last thirty years, notably: Monte Carlo sampling, antithetic replication, importance sampling, and Gibbs sampling. The author covers both advances in theory and modern approaches to numerical and applied problems. The book includes applications drawn from a variety of different fields within economics and also provides a quick overview to the underlying statistical ideas of Bayesian thought. The result is a book which presents a roadmap of applied economic questions that can now be addressed empirically with Bayesian methods. Consequently, many researchers will find this a readily readable survey of this growing research topic.

Authors and Affiliations

  • Department of Agricultural and Applied Economics, University of Georgia, Athens, USA

    Jeffrey H. Dorfman

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