# Bayesian Factor Analysis When Only A Sample Covariance Matrix Is Available

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### BAYESIAN MODEL ASSESSMENT IN FACTOR ANALYSIS

Section 2 deﬁnes the basic factor model framework, notation and structure, and discusses issues of model speciﬁcation. Section 3 describes Bayesian analysis of the factor model when the number of factors is speciﬁed, based on standard Gibbs sampling. Section 4 describes the RJMCMC we introduce to address uncertainty about the number of

### HETEROGENEOUS FACTOR ANALYSIS MODELS: A BAYESIAN APPROACH

There is a rich literature on Bayesian modeling of covariance structure models. Martin and McDonald (1975) provides an early illustration of Bayesian techniques for the factor analysis model and Lee (1981) focuses on the use of different prior distributions, whereas Bartholomew

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