Incorporating prior information when true priors are unknown: An Information-Theoretic approach for increasing efficiency in estimation

C-Tier
Journal: Economics Letters
Year: 2015
Volume: 127
Issue: C
Pages: 1-5

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We develop a new way to incorporate prior information within an Information-Theoretic (IT) estimation framework. The estimator considers many potential priors and uses a simple statistic to choose the optimal solution. Our method outperforms its competitors for all finite data.

Technical Details

RePEc Handle
repec:eee:ecolet:v:127:y:2015:i:c:p:1-5
Journal Field
General
Author Count
3
Added to Database
2026-01-25