Comment on 'Sparse Bayesian Factor Analysis when the Number of Factors is Unknown' by S. Frühwirth-Schnatter, D. Hosszejni, and H. Freitas Lopes
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arXiv
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| Auteurs principaux: | , |
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| Format: | Preprint |
| Publié: |
2024
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| _version_ | 1866910697011544064 |
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| author | Casarin, Roberto Peruzzi, Antonio |
| author_facet | Casarin, Roberto Peruzzi, Antonio |
| contents | The techniques suggested in Frühwirth-Schnatter et al. (2024) concern sparsity and factor selection and have enormous potential beyond standard factor analysis applications. We show how these techniques can be applied to Latent Space (LS) models for network data. These models suffer from well-known identification issues of the latent factors due to likelihood invariance to factor translation, reflection, and rotation (see Hoff et al., 2002). A set of observables can be instrumental in identifying the latent factors via auxiliary equations (see Liu et al., 2021). These, in turn, share many analogies with the equations used in factor modeling, and we argue that the factor loading restrictions may be beneficial for achieving identification. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2411_02531 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Comment on 'Sparse Bayesian Factor Analysis when the Number of Factors is Unknown' by S. Frühwirth-Schnatter, D. Hosszejni, and H. Freitas Lopes Casarin, Roberto Peruzzi, Antonio Methodology Econometrics The techniques suggested in Frühwirth-Schnatter et al. (2024) concern sparsity and factor selection and have enormous potential beyond standard factor analysis applications. We show how these techniques can be applied to Latent Space (LS) models for network data. These models suffer from well-known identification issues of the latent factors due to likelihood invariance to factor translation, reflection, and rotation (see Hoff et al., 2002). A set of observables can be instrumental in identifying the latent factors via auxiliary equations (see Liu et al., 2021). These, in turn, share many analogies with the equations used in factor modeling, and we argue that the factor loading restrictions may be beneficial for achieving identification. |
| title | Comment on 'Sparse Bayesian Factor Analysis when the Number of Factors is Unknown' by S. Frühwirth-Schnatter, D. Hosszejni, and H. Freitas Lopes |
| topic | Methodology Econometrics |
| url | https://arxiv.org/abs/2411.02531 |