Hello, new to Bayesian statistics. I want to do an IV estimation. Roughly, I have two variables, an endogenous variable and an outcome variable. To estimate the direct effect of the endogenous variable on the outcome variable, I want to use an instrument for the endogenous variable. I also have a se…

The r plm package by default uses a method from this paper to estimate an IV model with random effects: Full Information Estimations of a System of Simultaneous Equations with Error Component Structure | Econometric Theory | Cambridge Core , if that is of any help

I’ve settled on something more like this: data { int<lower=1> number_of_rows; int<lower=1> number_of_controls; int<lower=1> number_of_countries; int<lower=1> number_of_years; int<lower=1> number_of_rows_with_prices; int<lower=1> number_of_rows_without_prices; vector[number_of_rows] q…

Bayesian IV model help

Modeling

brandon22 January 6, 2026, 5:29pm 2

@James_Savage I saw your previous post on Bayeisan IV here and wondered if you had any advice

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Bayesian IV model help

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