Bayesian Inference for the Power Law Process with the Power Prior
- Authors
- Kim,Hyunsoo; Choi,Sanga; Kim, Seong Wook
- Issue Date
- Dec-2005
- Publisher
- 한국통계학회
- Keywords
- Power prior; power law process; historical data; propriety.
- Citation
- Journal of the Korean Statistical Society, v.34, no.4, pp.331 - 344
- Indexed
- KCI
- Journal Title
- Journal of the Korean Statistical Society
- Volume
- 34
- Number
- 4
- Start Page
- 331
- End Page
- 344
- URI
- https://scholarworks.bwise.kr/erica/handle/2021.sw.erica/46216
- ISSN
- 1226-3192
- Abstract
- Inference on current data could be more reliable if there exist similar data based on previous studies. Ibrahim and Chen (2000) utilize these data
to characterize the power prior. The power prior is constructed by raising the likelihood function of the historical data to the power a0; where 0 ·
a0 · 1. The power prior is a useful informative prior in Bayesian inference.However, for model selection or model comparison problems, the propriety
of the power prior is one of the critical issues. In this paper, we suggest two joint power priors for the power law process and show that they are proper
under some conditions. We demonstrate our results with a real dataset and some simulated datasets.
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