Publication:
On the Effect of Prior Assumptions in Bayesian Model Averaging with Applications to Growth Regression

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dc.contributor.authorLey, Eduardo
dc.contributor.authorSteel, Mark F. J.
dc.date.accessioned2012-06-07T15:38:56Z
dc.date.available2012-06-07T15:38:56Z
dc.date.issued2007-06
dc.description.abstractThis paper examines the problem of variable selection in linear regression models. Bayesian model averaging has become an important tool in empirical settings with large numbers of potential regressors and relatively limited numbers of observations. The paper analyzes the effect of a variety of prior assumptions on the inference concerning model size, posterior inclusion probabilities of regressors, and predictive performance. The analysis illustrates these issues in the context of cross-country growth regressions using three datasets with 41 to 67 potential drivers of growth and 72 to 93 observations. The results favor particular prior structures for use in this and related contexts.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/06/7712856/effect-prior-assumptions-bayesian-model-averaging-applications-growth-regression
dc.identifier.doi10.1596/1813-9450-4238
dc.identifier.urihttps://hdl.handle.net/10986/7401
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4238
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAREA
dc.subjectBAYES FACTOR
dc.subjectBINOMIAL DISTRIBUTION
dc.subjectCLASSIFICATION
dc.subjectCOVARIANCE
dc.subjectFORECASTS
dc.subjectINTEGER
dc.subjectLATIN AMERICAN
dc.subjectLINEAR MODELS
dc.subjectLINEAR REGRESSION
dc.subjectMATRIX
dc.subjectPRECISION
dc.subjectPREDICTION
dc.subjectPREDICTIONS
dc.subjectPROBABILITIES
dc.subjectPROBABILITY
dc.subjectPROBABILITY MODELS
dc.subjectREASONING
dc.subjectRESEARCH WORKING PAPERS
dc.subjectSAMPLE SIZE
dc.subjectSCENARIO
dc.subjectSIMULATION
dc.subjectSTANDARD DEVIATION
dc.titleOn the Effect of Prior Assumptions in Bayesian Model Averaging with Applications to Growth Regressionen
dspace.entity.typePublication
okr.crossref.titleOn The Effect Of Prior Assumptions In Bayesian Model Averaging With Applications To Growth Regression
okr.date.doiregistration2025-04-10T10:42:35.901394Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/06/7712856/effect-prior-assumptions-bayesian-model-averaging-applications-growth-regression
okr.globalpracticeEducation
okr.globalpracticeTransport and ICT
okr.guid985501468314359309
okr.identifier.doi10.1596/1813-9450-4238
okr.identifier.externaldocumentum000016406_20070612145934
okr.identifier.internaldocumentum7712856
okr.identifier.reportWPS4238
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/06/12/000016406_20070612145934/Rendered/PDF/wps4238.pdfen
okr.topicStatistical and Mathematical Sciences
okr.topicGeographical Information Systems
okr.topicEducation::Educational Technology and Distance Education
okr.topicScientific Research and Science Parks
okr.topicScience Education
okr.topicScience and Technology Development
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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