An empirical study of hierarchical Bayes small area estimators using different priors for model variances
An empirical study of hierarchical Bayes small area estimators using different priors for model variances
Author(s): Yong YouSubject(s): Economy, Socio-Economic Research
Published by: Główny Urząd Statystyczny
Keywords: CPO; flat prior; inverse gamma prior; relative error; variance component;
Summary/Abstract: In this paper, we study hierarchical Bayes (HB) estimators based on different priors for small area estimation. In particular, we use inverse gamma and flat priors for variance components in the HB small area models of You and Chapman (2006) and You (2021). We evaluate the HB estimators through a simulation study and real data analysis. Our results indicate that using the inverse gamma prior for the variance components in the HB models can be very effective.
Journal: Statistics in Transition. New Series
- Issue Year: 24/2023
- Issue No: 4
- Page Range: 169-178
- Page Count: 9
- Language: English