Bayesian statistics represents a powerful framework for data analysis that centres on Bayes’ theorem, enabling researchers to update existing beliefs with incoming evidence. By combining prior ...

It is well known that standard frequentist inference breaks down in IV regressions with weak instruments. Bayesian inference with diffuse priors suffers from the same problem. We show that the issue ...

What Is A Hierarchical Models? Hierarchical models, also known as hierarchical statistical models, multilevel models or random-effects models, are tools for analysing data with a nested or grouped ...

Articulate the primary interpretations of probability theory and the role these interpretations play in Bayesian inference Use Bayesian inference to solve real-world statistics and data science ...