Bayesian methods and what they offer compared to classical econometrics

A well-known economist who wishes to remain anonymous writes: Can you write about this agent? He’s getting exponentially big on Twitter. The link is to an econometrician, Jeffrey Wooldridge, who writes: Many useful procedures—shrinkage, for example—can be derived from a Bayesian perspective. But those estimators can be studied from a frequentist perspective, and no strong …