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This book is based on the presentations in the national conference on „Bayesian Statistics and its Emerging Applications‟ organized by the DST-Centre for Interdisciplinary Mathematical Sciences, Banaras Hindu University, Varanasi. The significance of the topic can be realized from the fact that Bayesian statistics has become a paradigm of considerable importance in the recent years and, as such, is being used in almost all branches of Science, technology and medicine.
It is to be noted that the Bayes‟ theorem is the only consistent way to modify our beliefs about the parameters given the data that actually occurred. This means that the inference is based on the actual data in hand, not on all possible data sets that
might occur. The theory provides a unified and coherent way of thinking about decision problems and a logically justified procedure to solve them using all available information. Present volume is a collection of the efforts of the participants of BSEA in the direction of propagating the latest developments in the field of Bayesian Statistics and Stochastic Modelling.