Contemporary Bayesian Econometrics and Statistics / Wiley Series in Probability and Statistics (PDF)

Tools to improve decision making in an imperfect world

This publication provides readers with a thorough understanding of
Bayesian analysis that is grounded in the theory of inference and
optimal decision making. Contemporary Bayesian Econometrics and
Statistics provides readers with state-of-the-art simulation
methods and models that are used to solve complex real-world
problems. Armed with a strong foundation in both theory and
practical problem-solving tools, readers discover how to optimize
decision making when faced with problems that involve limited or
imperfect data.

The book begins by examining the theoretical and mathematical
foundations of Bayesian statistics to help readers understand how
and why it is used in problem solving. The author then describes
how modern simulation methods make Bayesian approaches practical
using widely available mathematical applications software. In
addition, the author details how models can be applied to specific
problems, including:

* Linear models and policy choices

* Modeling with latent variables and missing data

* Time series models and prediction

* Comparison and evaluation of models

The publication has been developed and fine- tuned through a decade
of classroom experience, and readers will find the author's
approach very engaging and accessible. There are nearly 200
examples and exercises to help readers see how effective use of
Bayesian statistics enables them to make optimal decisions. MATLAB?
and R computer programs are integrated throughout the book. An
accompanying Web site provides readers with computer code for many
examples and datasets.

This publication is tailored for research professionals who use
econometrics and similar statistical methods in their work. With
its emphasis on practical problem solving and extensive use of
examples and exercises, this is also an excellent textbook for
graduate-level students in a broad range of fields, including
economics, statistics, the social sciences, business, and public
policy.