Figure 1: Likelihood-based methods are less accurate than maximum parsimony (MP) under heterogeneous conditions. Figure 2: Parsimony outperforms likelihood over a wide range of heterotachous ...

In the process of loan pricing, stress testing, capital allocation, modeling of probability of default (PD) term structure and International Financial Reporting Standard 9 expected credit loss ...

The likelihood equation for a logistic regression model does not always have a finite solution. Sometimes there is a nonunique maximum on the boundary of the parameter space, at infinity. The ...