In their review of the "Bayesian analysis of simultaneous equation systems," Dr ze and Richard (1983) - hereafter DR - express the following viewpoint about the present state of development of the Bayesian full information analysis of such sys- tems i) the method allows "a flexible specification of the prior density, including well defined noninformative prior measures"; ii) it yields "exact finite sample posterior and predictive densities." However, they call for further developments so that these densities can be eval- uated through 'numerical methods, using an integrated software packa e....
In their review of the "Bayesian analysis of simultaneous equation systems," Dr ze and Richard (1983) - hereafter DR - express the following viewpoint...