search query: @author Osiewalski, J. / total: 4
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| Author: | Koop, G. Osiewalski, J. Steel, M. F. J. |
| Title: | Bayesian efficiency analysis through individual effects: Hospital cost frontiers |
| Journal: | Journal of Econometrics
1997 : JAN/FEB, VOL. 76:1/2, p. 77-105 |
| Index terms: | PANEL DATA STOCHASTIC PROCESSES COSTS HEALTH |
| Language: | eng |
| Abstract: | This study describes and analyses Bayesian models for inference on firm-specific efficiencies. By using different prior structures Bayesian analogues can be derived to the classical fixed and random individual effect models. The absence of links between individual effects characterizes the fixed effects models, and thus don't require a hierarchical prior structure. These techniques are applied to a panel of U.S. hospitals and obtain reasonable results for both random effects models, which display an impressive robustness with respect to large changes in prior hyperparameter. |
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