In this paper, we conduct a set of Monte Carlo sampling experiments to examine the effect of design characteristics on the inequality restricted maximum entropy (RME) estimator. We generate data under varying design characteristics, and estimate the parameters using maximum entropy and least...

In this paper, we consider a periodic review inventory problem where demand in each period is modeled by linear regression. We use a Bayesian formulation to update the regression parameters as new information becomes available. We find that a state-dependent base-stock policy is optimal and we...

Bayesian econometrics knew a considerable increase in popularity in the last years, joining the interests of various groups of researchers in economic sciences and additional ones as specialists in econometrics, commerce, industry, marketing, finance, micro-economy, macro-economy and other...

We generalize the bandit process with a covariate introduced by Woodroofe in several significant directions: a linear regression model characterizing the unknown arm, an unknown variance for regression residuals and general discounting sequence for a non-stationary model. With the Bayesian...

This paper aims to develop some static and conditional (dynamic) models to predict portfolio returns in the Borsa Istanbul (BIST) that are calibrated to combine the capital asset-pricing model (CAPM) and corporate governance quality. In our conditional model proposals, both the traditional CAPM...

Industry structure and social capital could affect traders, market performance and distribution of economic resources such as food. This study assesses the effect of industry structure and social capital on traders' profitability and resilience. We use Bayes Model Averaging regression techniques...

This paper deals with instability in regression coefficients. We propose a Bayesian regression model with time-varying coefficients (TVC) that allows to jointly estimate the degree of instability and the time-path of the coefficients. Thanks to the computational tractability of the model and to...