On the convergence of Bayesian posterior processes in linear economic models. Counting equations and unknowns

DOI10.1016/0165-1889(91)90039-4zbMath0737.90009OpenAlexW2074716571MaRDI QIDQ1177287

Yaw Nyarko

Publication date: 26 June 1992

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0165-1889(91)90039-4

zbMATH Keywords

optimal controlinfinite-horizon optimizationcomplete learningconvergence of Bayesian posteriorslagged dependent regressorslinear regression processmonopolist with unknown demand curvenumber of equations and unknowns techniquetrue parameter vector

Mathematics Subject Classification ID

Application models in control theory (93C95) Economic growth models (91B62) Empirical decision procedures; empirical Bayes procedures (62C12)

Related Items (8)

On the convexity of the value function in Bayesian optimal control problems ⋮ Experimentation with accumulation ⋮ Convergence in economic models with Bayesian hierarchies of beliefs ⋮ Learning from others: A welfare analysis ⋮ Learning in mis-specified models and the possibility of cycles ⋮ Imperfect information, Bayesian learning, and capital accumulation ⋮ Learning and control in a changing economic environment. ⋮ Learning by doing and the value of optimal experimentation

Cites Work

• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Rational expectations equilibrium: An alternative approach
• Convergence of least squares learning mechanisms in self-referential linear stochastic models
• Strong consistency of least squares estimates in dynamic models
• Rational Expectations Equilibria, Learning, and Model Specification
• Controlling a Stochastic Process with Unknown Parameters
• An Example of Convergence to Rational Expectations with Heterogeneous Beliefs
• Optimal Control of an Unknown Linear Process with Learning
• A Bayesian Approach to the Production of Information and Learning by Doing
• The Multi-Period Control Problem Under Uncertainty
• Asymptotic Properties of Multiperiod Control Rules in the Linear Regression Model

This page was built for publication: On the convergence of Bayesian posterior processes in linear economic models. Counting equations and unknowns