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19:34
YouTube
How to Master Econometrics: Complete Guide
Handling Model Uncertainty: Bayesian Model Averaging (BMA) with Stata #econometrics #stata
Bayesian estimation is a statistical paradigm where model parameters are treated as random quantities, a fundamental shift from the frequentist view of fixed constants. By applying Bayes' theorem, researchers combine prior knowledge—formulated as prior distributions—with the likelihood of observed data to derive a posterior distribution ...
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