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Rejection sampling in demand systems

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URI: https://hdl.handle.net/10016/3674
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ws924129.pdf (329.7 KB)
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1992-12
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Abstract
We illustrate the method of rejection sampling in a Bayesian application of a new approach toı estimating Demand Systems. This approach, suggested by Varian (1990), is based on a generalization of Afriat's (1967) efficiency index. Rejection sampling is applied to the prior-to-posterior mapping enabling us to obtain posterior results in a nonstandard model.
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Rejection sampling, Bayesian methods, Demand systems, Efficiency
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DES - Working Papers. Statistics and Econometrics. WS