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The wiki for prior choice recommendation has a typo in the boundary-avoiding prior section for a correlation parameter.
Description:
The line reads "For a correlation parameter, a Beta(2,2) parameter on 2*(rho - 1/2) will keep the point estimate [...]"
a) the second instance of "parameter" should instead be "prior"
b) this line uses the inverse of the transformation rather than the transformation itself
Instead I believe the line should read:
"For a correlation parameter, a Beta(2,2) prior on rho/2 + 1/2 will keep the point estimate [...]"
or
"For a correlation parameter, a 2*(Beta(2,2)-1/2) prior on rho will keep the point estimate [...]"
Summary:
The wiki for prior choice recommendation has a typo in the boundary-avoiding prior section for a correlation parameter.
Description:
The line reads "For a correlation parameter, a Beta(2,2) parameter on 2*(rho - 1/2) will keep the point estimate [...]" a) the second instance of "parameter" should instead be "prior" b) this line uses the inverse of the transformation rather than the transformation itself
Instead I believe the line should read: "For a correlation parameter, a Beta(2,2) prior on rho/2 + 1/2 will keep the point estimate [...]" or "For a correlation parameter, a 2*(Beta(2,2)-1/2) prior on rho will keep the point estimate [...]"