search query: @indexterm BAYESIAN STATISTICS / total: 167
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| Author: | McCulloch, R.E. Polson, N.G. Rossi, P.E. |
| Title: | A Bayesian analysis of the multinational probit model with fully identified parameters |
| Journal: | Journal of Econometrics
2000 : NOV, VOL. 99:1, p. 173-193 |
| Index terms: | BAYESIAN STATISTICS PROBIT MODELS |
| Freeterms: | PRIORS |
| Language: | eng |
| Abstract: | The authors present a new prior and corresponding algorithm for Bayesian analysis of the multinominal probit model. Their new approach places a prior directly on the identified parameter space. The key is the spesification of a prior on the covariance matrix so that the (1,1) element is fixed at 1 and it is possible to draw from the posterior using standard distributions. Analytical results are derived which can be used to aid in assessment of the prior. |
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