Programme

PhD

Term

VI

Academic Year

2021-22

Course title

Bayesian Methodology for Business Research

Area

Production and Quantitative Methods

Credits

1.50

Instructor(s)

Prof. Dhiman Bhadra

Course Description & Objectives

Objective: Application of Bayesian methodology in solving business research problems is a fast growing area of research.  In this course we will start from the scratch assuming no prior knowledge of Bayesian Methodology. Before getting into deeper issues of Bayesian modelling, we plan to devote adequate number of sessions at the beginning to acquaint the students with the basic tools and concepts of Bayesian inference. In this course, our emphasis will be on the modelling aspect of business data arising in different functional areas of management from a Bayesian perspective. In this context, we will discuss hierarchical Bayesian models, model checking (both data model consistency and model selection) and implementation of the methodologies through Bayesian computation.