Using Meta-Analysis Results in Bayesian Updating: The Empty-Cell Problem
- 1 October 1992
- journal article
- research article
- Published by Taylor & Francis in Journal of Business & Economic Statistics
- Vol. 10 (4) , 427-435
- https://doi.org/10.1080/07350015.1992.10509918
Abstract
Bayesian estimation incorporating prior information has been a popular approach to gaining estimation efficiency. Although prior information can take a variety of forms, generalizations derived from meta-analyses have been suggested as being useful. This article shows that these priors can be problematic in light of the many empty cells observed in meta-analysis designs. Design reduction, which gives rise to an unbiased prior, is found to be the preferred solution.Keywords
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