Updating Probabilities with Data and Moments

@article{Giffin2007UpdatingPW,
  title={Updating Probabilities with Data and Moments},
  author={Adom Giffin and Ariel Caticha},
  journal={CoRR},
  year={2007},
  volume={abs/0708.1593}
}
We demonstrate how information in the form of observable data and moment constraints are introduced into the method of Maximum relative Entropy (ME). A general example of updating with data and moments is shown. Two speci c econometric examples are solved in detail which can then be used as templates for real world problems. A numerical example is compared to a large deviation solution which illustrates some of the advantages of the ME method. This paper is intended to be exaustive in that the… CONTINUE READING
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