Laplace Approximations in Bayesian Lifetime Analysis

We provide some background on Laplace approximations based on the work by Tierney and Kadane and illustrate the method's use in obtaining posterior distributions as well as the associated parameter estimates in Bayesian lifetime analysis. The advantages and the disadvantages of using this approach compared to other numerical alternatives are also discussed. Finally, a few examples from the relevant literature where the approximation has been successfully employed are provided. Keywords: Laplace approximation; Bayesian statistics; parameter estimation; asymptotic approaches; expectations