Take the Pareto density f (x j ) x1 for x 1 and 0 (a) Find the conjugate prior () (This may be tricky ) (b) Find the posterior ( j X) given a random sample (c) Find the posterior mean b Bayes ...

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Take the Pareto density f (x j ) x1 for x 1 and

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Take the Pareto density f (x j ®) Æ

x®Å1 for x È 1 and ® È 0.

(a) Find the conjugate prior ¼(®). (This may be tricky.)

(b) Find the posterior ¼(® j X) given a random sample.

(c) Find the posterior mean b®

Bayes.

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Probability And Statistics For Economists

ISBN: 9780691235943

1st Edition

Authors: Bruce Hansen

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Question Posted: Sep 23, 2024 08:00 AM

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Take the Pareto density f (x j ) x1 for x 1 and

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Probability And Statistics For Economists

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