Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/85883 
Authors: 
Year of Publication: 
2002
Series/Report no.: 
Tinbergen Institute Discussion Paper No. 02-084/4
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
Abstract: 
In a Bayesian analysis, different models can be compared on the basis of theexpected or marginal likelihood they attain. Many methods have been devised to compute themarginal likelihood, but simplicity is not the strongest point of most methods. At the sametime, the precision of methods is often questionable.In this paper several methods are presented in a common framework. The explanation of thedifferences is followed by an application, in which the precision of the methods is testedon a simple regression model where a comparison with analytical results is possible.
Subjects: 
Marginal likelihood
Bayesian analysis.
JEL: 
C11
C52
C63
Document Type: 
Working Paper

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