S4E03 Two-Stage Least Squares Strikes Back
Quantitude
00:00
Maximum Probability Is a Full Information Estimator
There are so many places where a model can go wrong and maximum likelihood is assuming that you got every single aspect of it right. If that doesn't happen, then all of the beautiful things, the holy trinity of unbiasedness, consistency and efficiency, those start to get very, very unstable. So what I would like to do is get in our way back machine and avoid the temptation of bringing in Churchill.
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