Leamer, Edward E - In: Scandinavian Journal of Economics 93 (1991) 2, pp. 225-48
Bayesian methods are logical, admissible, linguistically natural, helpful, conceptually simple, and honest. But they are also preposterous and very labor intensive. Generalized Bayesian methods allow data to be confusing and inconclusive. A Bayesian viewpoint allows one to get a handle on the...