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Rejection sampling in demand systems

Author

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  • Ley, Eduardo
  • Steel, Mark F.J.

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.

Suggested Citation

  • Ley, Eduardo & Steel, Mark F.J., 1992. "Rejection sampling in demand systems," DES - Working Papers. Statistics and Econometrics. WS 3674, Universidad Carlos III de Madrid. Departamento de Estadística.
  • Handle: RePEc:cte:wsrepe:3674
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    Keywords

    Efficiency;

    Statistics

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