Structural Bayesian Techniques
Introduction
For Experimental and Behavioral Economics, Online workshop, 16 Oct 2025
INTEREST CATEGORY: MARKETING RESEARCH
POSTING TYPE: Events
Posted by: ELMAR Moderator
Structural Bayesian Techniques for Experimental and Behavioral Economics, With Applications in R and Stan
If you have an economic model, then in principle you can estimate its parameters using structural techniques. In experimental and behavioral economics these models typically describe how people make decisions, describing phenomena such as distributional preferences, risk-aversion, time preferences, levels of strategic thinking, and strategies used by players in games. Bayesian techniques lend themselves especially well to estimating these models for at least three reasons. Firstly, hierarchical Bayesian modeling handles well the heterogeneity we can expect there to be between participants in economic experiments. Secondly, when doing structural estimation, we are often interested in reporting transformations of our model’s parameters, and this is very easy to implement in the Bayesian framework. Finally, recent developments in the software for estimating Bayesian models have made doing this easier and less computationally taxing.
Thursday, October 16th, 18:00 – 20:00 CEST (Rome, Berlin, Paris timezone)
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