R: MaxLik estimates is just equal to the initial parameters I've set (any initial parameter)
Clash Royale CLAN TAG #URR8PPP R: MaxLik estimates is just equal to the initial parameters I've set (any initial parameter) I have this log-likelihood function coded and tried to maximize it using the maxLik. However, 3 out of 4 parameters I've estimated is just the same with the any initial parameter I've used. What I know is that my actual parameters won't be sensitive on what my initial parameters are. Thus, I believe there is something wrong with my code as it does not converge to the maximum log-likelihood estimates. Any thoughts on how to fix it? # Flexible expo-power utility function expoUtility <- function(x, alpha, param_beta, W){ (1-exp(-alpha*(W + x)^(1-param_beta)))/alpha } # Calculate the probability of a single outcome in the next round Round.Probability.Table <- cbind(Round.Probability.Table,c(1:10)) Round.Probability.Table <- Round.Probability.Table[,1:3] names(Round.Probability.Table) <- c("Round","CasesAtEnd","Pr...