INFORMATIVE VERSUS NON-INFORMATIVE PRIOR DISTRIBUTIONS AND THEIR IMPACT ON THE ACCURACY OF BAYESIAN INFERENCE

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Statistics in Transition New Series

Polish Statistical Association

Central Statistical Office of Poland

Subject: Economics, Statistics & Probability

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ISSN: 1234-7655
eISSN: 2450-0291

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VOLUME 17 , ISSUE 4 (December 2016) > List of articles

INFORMATIVE VERSUS NON-INFORMATIVE PRIOR DISTRIBUTIONS AND THEIR IMPACT ON THE ACCURACY OF BAYESIAN INFERENCE

Wioletta Grzenda *

Keywords : Bayesian approach, regression models, a priori information, MCMC

Citation Information : Statistics in Transition New Series. Volume 17, Issue 4, Pages 763-780, DOI: https://doi.org/10.21307/stattrans-2016-051

License : (CC BY 4.0)

Published Online: 06-July-2017

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ABSTRACT

In this study the benefits arising from the use of the Bayesian approach to predictive modelling will be outlined and exemplified by a linear regression model and a logistic regression model. The impact of informative and non-informative prior on model accuracy will be examined and compared. The data from the Central Statistical Office of Poland describing unemployment in individual districts in Poland will be used. Markov Chain Monte Carlo methods (MCMC) will be employed in modelling.

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REFERENCES

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