Abstract
We have considered the case of the (truncated) extended natural-conjugate prior. Its drawbacks are well known — see DR and Richard (1973). In particular, one must elicit an informative prior on Σ, a difficult task; in addition, the prior information on Σ has a strong influence on the results on δ, and especially on β.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 1984 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Bauwens, L. (1984). Extensions. In: Bayesian Full Information Analysis of Simultaneous Equation Models Using Integration by Monte Carlo. Lecture Notes in Economics and Mathematical Systems, vol 232. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-45578-0_6
Download citation
DOI: https://doi.org/10.1007/978-3-642-45578-0_6
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-13384-1
Online ISBN: 978-3-642-45578-0
eBook Packages: Springer Book Archive