Monte Carlo experiments Approximate calculations 1 Bayesian 1 Bayesian VARs 1 Commerce 1 Finite sample performance 1 First price auction 1 First-price auction 1 Hierarchical representation 1 Impulse-response functions 1 Large dataset 1 Large datasets 1 Macroeconomic forecasting 1 Maximum likelihood estimation 1 Maximum likelihood estimator 1 Mixture prior 1 Mixture priors 1 Observed shock 1 Posterior distributions 1 Regression analysis 1 Risk aversion 1 Risk neutrality 1 Risk neutrals 1 Risk perception 1 Unobserved heterogeneity 1