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Numerical Tools for the Bayesian Analysis of Stochastic Frontier Models

Osiewalski,J.
; 
Steel,M.F.J.
Abstract
In this paper we describe the use of modern numerical integration methods for making posterior inferences in composed error stochastic frontier models for panel data or individual cross-sections.Two Monte Carlo methods have been used in practical applications.We survey these two methods in some detail and argue that Gibbs sampling methods can greatly reduce the computational difficulties involved in analyzing such models.
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Pagination: 17
Date
1996
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Volume Title
Publisher
Econometrics
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Tilburg University Research Output Collection
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Keywords
Monte Carlo Technique, Numerical Integration
Citation
Osiewalski, J & Steel, M F J 1996 'Numerical Tools for the Bayesian Analysis of Stochastic Frontier Models' CentER Discussion Paper, vol. 1996-03, Econometrics, Tilburg.
URI
https://hdl.handle.net/20.500.14602/26296
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