This paper presents an expository development of Bayesian estimation with substantial emphasis on exact results for the … estimation, admissibility and minimaxity. In this chapter, we attempt to give a coherent presentation of numerous Bayesian …

simulated data, we show that our approach works successfully for three issues that one encounters during the estimation of …

them in the inferential process. A general procedure for introducing skewness into symmetric distributions is first … improper priors is quite limited. Applying this skewness procedure to a Student-t distribution, we generate a "skewed Student …" distribution, which displays both flexible tails and possible skewness, each entirely controlled by a separate scalar parameter …

We ask whether Bayesian estimation creates a potential estimation bias as compared with standard estimation techniques … based on the data, such as maximum likelihood or indirect estimation. We investigate this with a Monte Carlo experiment in … alternative. The Bayesian estimation of macro models may thus give very misleading results by placing too much weight on prior …