PRIOR Subcommand (BAYES REGRESSION command)

PRIOR specifies the prior distribution settings for the regression parameters and the variance of the errors.

TYPE. Specifies the prior distribution for the regression parameters and the variance of the errors. Reference priors are the default setting.

SHAPEPARAM = value. Specifies the shape parameter a₀ for Inverse-Gamma distribution. Must be a single value > 0. The parameter is required when TYPE = CONJUGATE.

SCALEPARAM = value. Specifies the scale parameter b₀ for Inverse-Gamma distribution. Must be a single value > 0. The parameter is required when TYPE = CONJUGATE.

MEANVECTOR = values. Specifies the mean vector θ₀ for the regression parameters. The number of the values must meet the number of regression parameters, including the intercept term. The values are separated by blank spaces. The parameter is required when TYPE = CONJUGATE.

VMATRIX. Specifies V₀ the values in the lower triangle in the variance-covariance matrix for the multivariate normal prior. Note that V₀ must be semi-positive definite. The values are separated by blank spaces. Different rows must be separated by semicolon characters. The last value of each row must be positive. The next row should have one more value than its previous row. The identity matrix is the default setting.