Bayesian Data Analysis, Third Edition, 3rd Edition

Chapter 3

Introduction to multiparameter models

Virtually every practical problem in statistics involves more than one unknown or unobservable quantity. It is in dealing with such problems that the simple conceptual framework of the Bayesian approach reveals its principal advantages over other methods of inference. Although a problem can include several parameters of interest, conclusions will often be drawn about one, or only a few, parameters at a time. In this case, the ultimate aim of a Bayesian analysis is to obtain the marginal posterior ...