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Introduction to Bayesian Econometrics Proven strategies for applying LeanAuthor: Edward Greenberg Category: Business & Finance Language: English Publisher: Cambridge University Press Publication date: November 12, 2012 This textbook explains the basic ideas of subjective probability and shows how subjective probabilities must obey the usual rules of probability to ensure coherency. It defines the likelihood function, prior distributions and posterior distributions. It explains how posterior distributions are the basis for