Port Environmental Quality or Economic Growth? Their Relevance and Government Preference in Developing Countries

Table 2

Partial bayes estimate.

Parameters	Prior distribution	Posterior mean	95% confidence interval
Α	Beta (0.5, 0.005)	0.5032	[0.494, 0.5115]
ρQ	Beta (0.9795, 0.005)	0.9801	[0.9766, 0.9837]
ρλ	Beta (0.95, 0.0025)	0.9499	[0.9461, 0.9549]
ρa	Beta (0.95, 0.0025)	0.9503	[0.9464, 0.9561]
ρλ	Beta (0.5, 0.0025)	0.4998	[0.4959, 0.5045]
ρc	Beta (0.5, 0.0025)	0.0395	[0.3948, 0.5039]
P	—	2.612	[2.6039, 2.6211]
Φ	—	27.1887	[27.1499, 27.1987]
σa	Inv_gamma (0.01, inf)	1.7806	[0.494, 0.5115]
σλ	Inv_gamma (0.01, inf)	1.3899	[0.494, 0.5115]
	Inv_gamma (0.01, inf)	0.0152	[0.494, 0.5115]
σc	Inv_gamma (0.01, inf)	0.0395	[0.494, 0.5115]