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Existing Bayesian model selection procedures require the specification of prior distributions on the parameters appearing in every model in the selection set. In practice, this requirement limits the application of Bayesian model selection methodology. To overcome this limitation, we propose a...
Persistent link: https://www.econbiz.de/10005658816
Traditionally, the use of Bayes factors has required the specification of proper prior distributions on model parameters that are implicit to both null and alternative hypotheses. I describe an approach to defining Bayes factors based on modelling test statistics. Because the distributions of...
Persistent link: https://www.econbiz.de/10005140233
We examine philosophical problems and sampling deficiencies that are associated with current Bayesian hypothesis testing methodology, paying particular attention to objective Bayes methodology. Because the prior densities that are used to define alternative hypotheses in many Bayesian tests...
Persistent link: https://www.econbiz.de/10008576735