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Using the Bayesian Information Criterion (BIC) to judge models and statistical significance

Paul Millar

North American Stata Users' Group Meetings 2006 from Stata Users Group

Abstract: After a short review of the development of the BIC (Jeffery, Schwartz). Its extension by Raftery for statistical signficance (implemented as -bic-) and a further, simpler routine (-bicdrop1-) will be discussed as preventative methods to avoid making incorrect inference decisions and also as "model mining" procedures.

Date: 2006-07-23
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