It is well known that standard frequentist inference breaks down in IV regressions with weak instruments. Bayesian inference with diffuse priors suffers from the same problem. We show that the issue ...

Articulate the primary interpretations of probability theory and the role these interpretations play in Bayesian inference Use Bayesian inference to solve real-world statistics and data science ...

(Nanowerk News) How can the component elements of an unknown material, such as a meteorite, be determined? X-ray fluorescence analysis can be used to identify an abundance of elements, by irradiating ...

In my practice, I find most people involved with advanced analytics, such as predictive, data science, and ML, are familiar with the name Bayes, and can even reproduce the simple theorem below. Still, ...

Journal of Business & Economic Statistics, Vol. 34, No. 4, Special Issue on Big Data (October 2016), pp. 661-672 (12 pages) Randomized controlled trials play an important role in how Internet ...

Empirical Bayes is a versatile approach to “learn from a lot” in two ways: first, from a large number of variables and, second, from a potentially large amount of prior information, for example, ...