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A Tutorial on the Computation of Bayes Factors

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  • Hedibert Freitas Lopes

Abstract

In this review paper we revisit several of the existing schemes that approximate predictive densities and, consequently, Bayes factors. We also presente the reversible jump MCMC scheme, which can be thought of as an MCMC scheme over the space of models. These approaches are applied to select the number of common factors in the basic normal linear factor model, which is a high profile example within the psychometrics community.

Suggested Citation

  • Hedibert Freitas Lopes, 2014. "A Tutorial on the Computation of Bayes Factors," Business and Economics Working Papers 200, Unidade de Negocios e Economia, Insper.
    • Handle: RePEc:aap:wpaper:200
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    File URL: https://repositorio.insper.edu.br/handle/11224/5960
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    References listed on IDEAS

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