{"title":"Bayesian regression models in gretl: the BayTool package","authors":"Luca Pedini","doi":"10.1007/s00180-024-01466-5","DOIUrl":null,"url":null,"abstract":"<p>This article presents the <span>gretl</span> package <span>BayTool</span> which integrates the software functionalities, mostly concerned with frequentist approaches, with Bayesian estimation methods of commonly used econometric models. Computational efficiency is achieved by pairing an extensive use of Gibbs sampling for posterior simulation with the possibility of splitting single-threaded experiments into multiple cores or machines by means of parallelization. From the user’s perspective, the package requires only basic knowledge of <span>gretl</span> scripting to fully access its functionality, while providing a point-and-click solution in the form of a graphical interface for a less experienced audience. These features, in particular, make <span>BayTool</span> stand out as an excellent teaching device without sacrificing more advanced or complex applications.</p>","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2024-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"100","ListUrlMain":"https://doi.org/10.1007/s00180-024-01466-5","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
This article presents the gretl package BayTool which integrates the software functionalities, mostly concerned with frequentist approaches, with Bayesian estimation methods of commonly used econometric models. Computational efficiency is achieved by pairing an extensive use of Gibbs sampling for posterior simulation with the possibility of splitting single-threaded experiments into multiple cores or machines by means of parallelization. From the user’s perspective, the package requires only basic knowledge of gretl scripting to fully access its functionality, while providing a point-and-click solution in the form of a graphical interface for a less experienced audience. These features, in particular, make BayTool stand out as an excellent teaching device without sacrificing more advanced or complex applications.
期刊介绍：
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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