bic is a post-estimation command that uses the Bayesian Information Criterion (BIC) for estimating the probability that a variable is part of a model, the equivalent of the statistical significance of a variable's effect. bic estimates models based on all possible combinations of the independent variables - it is computationally intensive. For each of these models it calculates the BIC statistic. It then calculates the probability of each of these models, based on Bayesian principles as first proposed by Schwarz (1978) and further developed by Raftery (1995).
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Publisher Info
Software component provided by Boston College Department of Economics in its series Statistical Software Components with number
S449507.
Size: Programming language: Stata Requires: Stata version 8 Date of creation: 19 Jun 2005 Date of revision:
30 Mar 2008 Handle: RePEc:boc:bocode:s449507
Note: This module may be installed from within Stata by typing "ssc install bic". Windows users should not attempt to download these files with a web browser. Contact details of provider: Postal: Boston College, 140 Commonwealth Avenue, Chestnut Hill MA 02467 USA Phone: 617-552-3670 Fax: +1-617-552-2308 Email: Web page: http://fmwww.bc.edu/EC/ More information through EDIRC