Bayesian Quantile Regression for Ordinal Models
Copyright policy )Bayesian Quantile Regression for Ordinal Models
The paper introduces a Bayesian estimation method for quantile regression in univariate ordinal models. Two algorithms are presented that utilize the latent variable inferential framework of Albert and Chib (1993) and the normal-exponential mixture representation of the asymmetric Laplace distribution. Estimation utilizes Markov chain Monte Carlo simulation - either Gibbs sampling together with the Metropolis-Hastings algorithm or only Gibbs sampling. The algorithms are employed in two simulation studies and implemented in the analysis of problems in economics (educational attainment) and political economy (public opinion on extending "Bush Tax" cuts). Investigations into model comparison exemplify the practical utility of quantile ordinal models.
24 pages
FOS: Computer and information sciences, Bayesian inference, asymmetric Laplace, Metropolis-Hastings, Methodology (stat.ME), Statistical ranking and selection procedures, Markov chain Monte Carlo, Gibbs sampling, educational attainment, Bush Tax cuts, Applications of statistics to economics, Metropolis–Hastings, Statistics - Methodology
FOS: Computer and information sciences, Bayesian inference, asymmetric Laplace, Metropolis-Hastings, Methodology (stat.ME), Statistical ranking and selection procedures, Markov chain Monte Carlo, Gibbs sampling, educational attainment, Bush Tax cuts, Applications of statistics to economics, Metropolis–Hastings, Statistics - Methodology
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