More Advantages
More Advantages
- Ease of interpretation
- Bayesian: “The probability of a direct link between A and B is greater than .95.”
- Classical: “The chance of getting a test statistic this extreme if there is no link between A and B is less than 5%.”
- Theory applies to any problem
- Discrete or continuous variables
- Deterministic or stochastic phenomenon
- Nested or non-nested models
- iid or correlated variables
- General purpose algorithms for computing posterior distributions are becoming available
- No need to choose arbitrary null hypothesis
- All hypotheses are compared simultaneously against each other