Peter Rossi Bayesian Non- and Semi-parametric Methods and Application (Hardback)

Description: Further DetailsTitle: Bayesian Non- and Semi-parametric Methods and ApplicationsCondition: NewEAN: 9780691145327ISBN: 9780691145327Publisher: Princeton University PressFormat: HardbackRelease Date: 04/27/2014Item Height: 216mmItem Length: 140mmItem Weight: 397gLanguage: EnglishISBN-10: 0691145326Description: This book reviews and develops Bayesian non-parametric and semi-parametric methods for applications in microeconometrics and quantitative marketing. Most econometric models used in microeconomics and marketing applications involve arbitrary distributional assumptions. As more data becomes available, a natural desire to provide methods that relax these assumptions arises. Peter Rossi advocates a Bayesian approach in which specific distributional assumptions are replaced with more flexible distributions based on mixtures of normals. The Bayesian approach can use either a large but fixed number of normal components in the mixture or an infinite number bounded only by the sample size. By using flexible distributional approximations instead of fixed parametric models, the Bayesian approach can reap the advantages of an efficient method that models all of the structure in the data while retaining desirable smoothing properties. Non-Bayesian non-parametric methods often require additional ad hoc rules to avoid "overfitting," in which resulting density approximates are nonsmooth. With proper priors, the Bayesian approach largely avoids overfitting, while retaining flexibility.This book provides methods for assessing informative priors that require only simple data normalizations. The book also applies the mixture of the normals approximation method to a number of important models in microeconometrics and marketing, including the non-parametric and semi-parametric regression models, instrumental variables problems, and models of heterogeneity. In addition, the author has written a free online software package in R, "bayesm," which implements all of the non-parametric models discussed in the book.Country/Region of Manufacture: USAuthor: Peter RossiGenre: Science Nature & MathBook Series: Econometric and Tinbergen Institutes LecturesRelease Year: 2014 Missing Information?Please contact us if any details are missing and where possible we will add the information to our listing.

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Book Title: Bayesian Non- and Semi-parametric Methods and Applications

Title: Bayesian Non- and Semi-parametric Methods and Applications

EAN: 9780691145327

ISBN: 9780691145327

Release Date: 04/27/2014

Release Year: 2014

ISBN-10: 0691145326

Country/Region of Manufacture: US

Genre: Science Nature & Math

Number of Pages: 224 Pages

Language: English

Publication Name: Bayesian Non- and Semi-Parametric Methods and Applications

Publisher: Princeton University Press

Publication Year: 2014

Subject: Economics / Microeconomics, Economics / General, Econometrics, Economics / Theory, Probability & Statistics / Bayesian Analysis

Item Height: 0.9 in

Item Weight: 14 Oz

Type: Textbook

Subject Area: Mathematics, Business & Economics

Item Length: 8.7 in

Author: Peter Rossi

Series: The Econometric and Tinbergen Institutes Lectures

Item Width: 5.5 in

Format: Hardcover