John Geweke – Contemporary Bayesian Econometrics and Statistics

There are tools to improve decision making.

The theory of inference and optimal decision making is the subject of the publication. State-of-the-art simulation methods and models are used to solve complex real-world problems in Contemporary Bayesian Econometrics and Statistics. Readers discover how to make better decisions when faced with limited or imperfect data with a strong foundation in both theory and practical problem-solving tools.

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 shows how simulation methods make practical the use of mathematical applications software. The author details how models can be applied to specific problems. Policy choices and linear models. Modeling with missing data. Time series models are used. There is a comparison and evaluation of models.

Readers will find the author’s approach very engaging and accessible in the publication. There are more than 200 examples and exercises to help readers see how effective the use of statistics can be. There are computer programs in the book. Readers can find computer code on the accompanying Web site.

Econometrics and similar statistical methods are used by research professionals. This is an excellent textbook for graduate-level students in a wide range of fields, including economics, statistics, the social sciences, business, and public policy.