Hi
I have tried using the BayTool package with some success (in terms of getting output),
I have read (perhaps not well enough) the detailed paper by Luca Pedini. However, I am puzzled why when simply using the linear model with conjugate prior, as a default I get two sets of posterior mean parameter and se estimates -NI-post m and I post-m and NI-Pst se and I-post se. . Looking at the graphs of the Gaussian Posterior density estimates, they appear to more closely centred on the I-pos -mean. Although the difference s between the N & O posterior estimates is small, what is the basis for selecting one rather than the other?
Second question - how can I retrieve the fitted values and residuals from theB-Took Package. Hopefully it resides somewhere to be retirieved post estimation. Or is iit necessary to run the input data through the equation to generate it onself -and if so, which set of posterior mean estimates does one use?
I expect these are straightforward issues for a Bayesian -but not for a frequentist.
PS -the BayTool package does not seem to attach permanently to the URL "model" list of options.
regards
Brian J Revell
Professor Emeritus (Agricultural Economics)
Tel: home 01952 728153 Mobile 07976 538712
Address: Orchard Croft, Vineyard Rd, Homer, Much Wenlock TF!3 6NG