Hi,
Suppose I want to estimate a model and all I know about the parameters is that they lie within certain ranges. I don't really know which values are more plausible than others within the ranges, and so am willing to assume uniform priors for all parameters. What could be potential problems with this?
Dynare forums
Forums for asking questions, posting comments and uploading examples related to Dynare
Uniform prior for all parameters
Forum rules
This forum is closed. You can read the posts but cannot write. We have migrated the forum to a new location (https://forum.dynare.org) where you will have to reset your password.
This forum is closed. You can read the posts but cannot write. We have migrated the forum to a new location (https://forum.dynare.org) where you will have to reset your password.
2 posts
• Page 1 of 1
Uniform prior for all parameters
by nakov » Fri Jun 01, 2007 1:53 pm
- nakov
- Posts: 12
- Joined: Mon Aug 01, 2005 9:32 am
by pun_star » Fri Jun 01, 2007 7:48 pm
hi
with uniform priors, it is possible that the optimiser will hit the boundaries.
it is better to have loose, but slightly curved priors.
good luck. you need all the luck in the world, with these models.
cheers
estefan
with uniform priors, it is possible that the optimiser will hit the boundaries.
it is better to have loose, but slightly curved priors.
good luck. you need all the luck in the world, with these models.
cheers
estefan
- pun_star
- Posts: 11
- Joined: Wed Apr 18, 2007 7:00 am
2 posts
• Page 1 of 1
Who is online
Users browsing this forum: Google [Bot] and 6 guests