New Bayes Estimators Solve Non-Existence of Moments in Simultaneous Equation Models!
The researchers found a way to improve estimators used in a statistical model by making a simple change. This change helps to solve a problem where certain estimators may not work well. The new estimators can be seen as either Bayes estimators or constrained estimators. These modified estimators ensure that the coefficients in the model are within a certain range, making them more reliable for making predictions.