Hello,
A number of issues have come up on parts 3.2 and 3.3 in problem set 3 about
the question of iterations (specifically, "If so, after how many
iterations?"). Patrick and I have decided to remove this component of
questions 3.2 and 3.3 from the problem set. So, questions 3.2 and 3.3
should now read as follows:
3.2. Now use optim() to find the values (x*, y*) that maximize the joint
density. Use c(1,0.05) as your starting values and method="BFGS". Report
the value of the objective function at the maximum and (x*, y*). Does optim
work well here? Did the algorithm converge? If not, why?
3.3. Repeat 3.2 but use c(5,5) as starting values. Report the value of the
objective function at the maximum and (x*, y*). Does optim work well here?
Did the algorithm converge? If not, why?
Best,
Miya
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Miya Woolfalk
Ph.D. Student
Harvard University
Government and Social Policy