Rights statement: This is the author’s version of a work that was accepted for publication in Tourism Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Tourism Management, 64, 2018 DOI: 10.1016/j.tourman.2017.07.018
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Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - The time has come
T2 - Toward Bayesian SEM estimation in tourism research
AU - Assaf, A. George
AU - Tsionas, Mike
AU - Oh, Haemoon
N1 - This is the author’s version of a work that was accepted for publication in Tourism Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Tourism Management, 64, 2018 DOI: 10.1016/j.tourman.2017.07.018
PY - 2018/2
Y1 - 2018/2
N2 - While the Bayesian SEM approach is now receiving a strong attention in the literature, tourism studies still heavily rely on the covariance-based approach for SEM estimation. In a recent special issue dedicated to the topic, Zyphur and Oswald (2013) used the term “Bayesian revolution” to describe the rapid growth of the Bayesian approach across multiple social science disciplines. The method introduces several advantages that make SEM estimation more flexible and powerful. We aim in this paper to introduce tourism researchers to the power of the Bayesian approach and discuss its unique advantages over the covariance-based approach. We provide first some foundations of Bayesian estimation and inference. We then present an illustration of the method using a tourism application. The paper also conducts a Monte Carlo simulation to illustrate the performance of the Bayesian approach in small samples and discuss several complicated SEM contexts where the Bayesian approach provides unique advantages.
AB - While the Bayesian SEM approach is now receiving a strong attention in the literature, tourism studies still heavily rely on the covariance-based approach for SEM estimation. In a recent special issue dedicated to the topic, Zyphur and Oswald (2013) used the term “Bayesian revolution” to describe the rapid growth of the Bayesian approach across multiple social science disciplines. The method introduces several advantages that make SEM estimation more flexible and powerful. We aim in this paper to introduce tourism researchers to the power of the Bayesian approach and discuss its unique advantages over the covariance-based approach. We provide first some foundations of Bayesian estimation and inference. We then present an illustration of the method using a tourism application. The paper also conducts a Monte Carlo simulation to illustrate the performance of the Bayesian approach in small samples and discuss several complicated SEM contexts where the Bayesian approach provides unique advantages.
KW - Bayesian approach
KW - SEM
KW - Small samples
KW - Monte Carlo simulation
U2 - 10.1016/j.tourman.2017.07.018
DO - 10.1016/j.tourman.2017.07.018
M3 - Journal article
VL - 64
SP - 98
EP - 109
JO - Tourism Management
JF - Tourism Management
SN - 0261-5177
ER -