The posterior mode under the standardized prior density is proposed to estimate a mean (vector) parameter, and its potential usefulness is discussed. Priors in this study include a conjugate prior and its generalized forms. When a prior density is factored into the standardized prior density and the supporting measure density, our suggestion is to discard the latter density and then to calculate the posterior mode of the mean under the standardized prior density. This treatment makes our choice of a prior density flexible. Implications of this treatment are discussed.
|Number of pages||17|
|Journal||Journal of Statistical Planning and Inference|
|Publication status||Published - May 1 2005|
All Science Journal Classification (ASJC) codes
- Statistics and Probability
- Statistics, Probability and Uncertainty
- Applied Mathematics