Choosing Right Bayesian Tools: A Comparative Study of Modern Bayesian Methods in Spatial Econometric Models
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DOI: 10.3390/econometrics13040049
Abstract: We compare three modern Bayesian approaches, Hamiltonian Monte Carlo (HMC), Variational Bayes (VB), and Integrated Nested Laplace Approximation (INLA), for two classic spatial econometric specifications: the spatial lag model and spatial error model. Our Monte… read more here.
Keywords: modern bayesian; right bayesian; spatial econometric; bayesian tools ... See more keywords