Skip to main content
    • Aa
    • Aa


  • Dale J. Poirier (a1)
  • Published online: 01 August 1998

A Bayesian analysis of a nonidentified model is always possible if a proper prior on all the parameters is specified. There is, however, no Bayesian free lunch. The “price” is that there exist quantities about which the data are uninformative, i.e., their marginal prior and posterior distributions are identical. In the case of improper priors the analysis is problematic—resulting posteriors can be improper. This study investigates both proper and improper cases through a series of examples.

Corresponding author
Address correspondence to: Dale J. Poirier, Department of Economics, University of Toronto, 150 St. George Street, Toronto, Ontario M5S 3G7, Canada; e-mail:
Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

Econometric Theory
  • ISSN: 0266-4666
  • EISSN: 1469-4360
  • URL: /core/journals/econometric-theory
Please enter your name
Please enter a valid email address
Who would you like to send this to? *