Bayesian Econometrics is an approach in econometrics that uses Bayesian inference to estimate the uncertainty about parameters in economic models, contrasting with the classical approach of fixed parameter values.
An in-depth exploration of the concept of 'Prior' in Bayesian econometrics, including historical context, types, key events, mathematical models, applications, and related terms.
A comprehensive guide to the Bayesian Approach to Decision Making, a methodology that incorporates new information or data into the decision process. This approach refines and corrects initial assumptions as further information becomes available.
