Proceedings of the 4th Bandung Creative Movement International Conference on Creative Industries 2017 (4th BCM 2017)

Bayesian Estimation of Spatio-Temporal Models with Covariates Measured with Spatio-Temporally Correlated Errors: Evidence from Monte Carlo Simulation

Authors
Mohammad Masjkur, Henk Folmer
Corresponding Author
Mohammad Masjkur
Available Online February 2018.
DOI
https://doi.org/10.2991/bcm-17.2018.61How to use a DOI?
Keywords
Spatio-temporal model, measurement error, Bayesian analysis
Abstract
Spatio-temporal data are susceptible to covariates measured with errors. However, little is known about the empirical effects of measurement error on the asymptotic biases in regression coefficients and variance components when measurement error is ignored. The purpose of this paper is to analyze Bayesian inference of spatio-temporal models in the case of a spatio-temporally correlated covariate measured with error by way of Monte Carlo simulation. We consider spatio-temporal model with spatio-temporal correlation structure corresponds to the Leroux conditional autoregressive (CAR) and the first order autoregressive priors. We apply different spatio-temporal dependence parameter of response and covariate. We use the relative bias (RelBias) and Root Mean Squared Error (RMSE) as valuation criteria. The simulation results show the Bayesian analysis considering measurement error show more accurate and efficient estimated regression coefficient and variance components compared with na‹ve analysis.
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Proceedings
4th Bandung Creative Movement International Conference on Creative Industries 2017 (4th BCM 2017)
Part of series
Advances in Economics, Business and Management Research
Publication Date
February 2018
ISBN
978-94-6252-478-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/bcm-17.2018.61How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Mohammad Masjkur
AU  - Henk Folmer
PY  - 2018/02
DA  - 2018/02
TI  - Bayesian Estimation of Spatio-Temporal Models with Covariates Measured with Spatio-Temporally Correlated Errors: Evidence from Monte Carlo Simulation
BT  - 4th Bandung Creative Movement International Conference on Creative Industries 2017 (4th BCM 2017)
PB  - Atlantis Press
SP  - 313
EP  - 317
SN  - 2352-5428
UR  - https://doi.org/10.2991/bcm-17.2018.61
DO  - https://doi.org/10.2991/bcm-17.2018.61
ID  - Masjkur2018/02
ER  -