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Bayesian Analysis for Binomial Models with Generalized Beta Prior DistributionsUniversity of Iowa
The Libby-Novick class of three-parameter generalized beta distributions is shown to provide a rich class of prior distributions for the binomial model that removes some of the restrictions of the standard beta class. The posterior distribution defines a new class of four-parameter generalized beta distributions for which numerical posterior analysis is easily done. A numerical example indicates the desirability of using these wider classes of densities for binomial models, particularly in an interactive computing environment.
Key Words: Generalized beta distribution nonconjugate priors binomial models Bayesian analysis
Journal of Educational and Behavioral Statistics, Vol. 9, No. 2,
163-175 (1984) |
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