Question: 4. Panel data with T D 1 reduces to the cross-sectional data sets used in previous chapters. The pooled model is identical to the Normal

4. Panel data with T D 1 reduces to the cross-sectional data sets used in previous chapters. The pooled model is identical to the Normal linear regression model of Chapters 3 and 4. But the other models in this chapter differ from those in earlier chapters even if T D 1. Discuss Bayesian inference in both individual effects models (i.e. with hierarchical and non-hierarchical priors) when T D 1.

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