Bayesian Method of Moments for Modelling Repeated Sedation Measurements

Abstract

Generalized Methods of Moments approach is very popular among econometricians but is hardly used at all outside of economics, where the slightly more general term estimating equations is preferred. In this study, we prefer using GMM and Bayesian GMM approaches in a medical application. Our aim is to show that the use of generalized methods of moments with an without a Bayesian approach can be a valuable tool in medical applications when response values are clearly correlated and independent variables include categorical data as well as continuous variables.