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 ...

Scientists have confirmed that human brains are naturally wired to perform advanced calculations, much like a high-powered computer, to make sense of the world through a process known as Bayesian ...