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It's true. Basically every estimation or inference problem can be solved by MCMC. The only reason not to do so is a lack of computational power.
by blt 4y ago
It's true. Basically every estimation or inference problem can be solved by MCMC. The only reason not to do so is a lack of computational power.
- operator-name 4y agoThe majority of estimation problems have either: - too much uncertainty - extremely relaxed tolerances for acceptable answers and are performed in people's heads or simple napkin/grade school maths. It's not about computational power, it's about what's right for the job.