Table 1. Prior probability distributions with mode and coefficient of variation for parameters specified in the state-space production model
Parameter
Prior
Mode
CV
r
Lognormal (–0.75, 0.86)
0.22
1.05
k
Lognormal (15.14, 0.96)
1,454,000
1.26
q
Uniform on log
q
(−90, −1)
Noninformative
σ
p
2
Inverse gamma (2.68, 1.06)
0.29
1.21
σ
o
2
Inverse gamma (4.78, 0.66)
0.11
0.60
P
1999
Normal on log
p
1999
(–1.37, 1.35)
0.07
1.69
CV, coefficient of variation.