Bayesian Analysis on Engel Curves Estimation With Measurement Errors and an Instrumental Variable
含测量误差与工具变量的恩格尔曲线估计：贝叶斯分析
In this article, we consider the Bayesian estimation of Engel curves specified as the Working–Leser form with the measurement errors on both the left and the right sides. It is noteworthy that in the Bayesian approach no additional variation data (i.e., instrumental variables) are required in contrast with the non-Bayesian approach. We present the Bayesian estimation procedure in both models without an instrumental variable and with an instrumental variable. We also compare…