When I do Bayesian estimation, it told me that "Prior distribution for parameter bhas two modes! Prior distribution for parameter xi has two modes!" (b: habit formation. xi: calvo stick).
Shall I ignore it? Or is there any method to deal with it?
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double prior modes in Bayesian estimation
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double prior modes in Bayesian estimation
by shouwangsp08 » Mon Jul 17, 2017 4:12 pm
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Re: double prior modes in Bayesian estimation
by jpfeifer » Mon Jul 17, 2017 4:32 pm
If you look at the prior plots, you will see a mode at 0 and 1. Decrease the standard deviation of the beta distribution until you get a nice single-peaked distribution.
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Re: double prior modes in Bayesian estimation
by shouwangsp08 » Mon Jul 17, 2017 4:34 pm
I see. Thanks a lot, Professor.
Warm regards,
Samson
Warm regards,
Samson
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