To: Econ551 students: please note the following correction to the gamma distribution that I described in class. I thank the student and Moto Shintani for making me aware of this mistake, and my apologies: John: In my office hour, a student pointed out minor correction about gamma distn in your lecture. (correct pdf ) b^a ------- x^(a-1)exp(-bx) --> E(x) = a/b, V(x) = a/(b^2) gamma(a) (pdf in lecture) 1 ----------- x^(a-1)exp(-x/b) --> E(x) = ab, V(x) = ab^2 gamma(a)b^a I would appreciate if you could annouce in the lecture or through econ551 list in e-mail. Thanks Moto ------------------------------------------ Mototsugu Shintani Department of Economics, Yale University P.O.Box 205528 Yale Station New Haven, CT 06520-5528 USA e-mail:shintani@minerva.cis.yale.edu shintani@pantheon.yale.edu ------------------------------------------