There are three main criticisms. The first is to misread Assumption 1 so as to think that probabilities are being put to zero after having observed the data leading to the erroneous conclusion that the proposed methods are not Bayesian. The second is due to a failure to grasp the relevance of the fifth paragraph of the Introduction leading to suggestions that alternative methods be used that are not available. The third relates to the fact that it might be advisable to make an adjustment that is analogous to a Jacobian term in some applications.
All Science Journal Classification (ASJC) codes
- Economics and Econometrics