Quick: How many people did you see on the way home from work the other day? Was it more or less than the day before? Regardless of your answer, it's likely you can't explain what led you to it. Number ...

An approximation is proposed for the posterior mean and standard deviation of the ability parameter in an item response model. The procedure assumes that approximations to the posterior mean and ...

This paper provides a closed‐form density approximation when the underlying state variable is a one‐dimensional diffusion. Building on Aït‐Sahalia (2002), we show that our refinement is applicable ...