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The calibration of P-values,posterior Bayes factors and the AIC from the posterior distribution of the likelihood
Authors:Aitkin  Murray
Institution:(1) Department of Statistics, University of Newcastle, Newcastle-upon-Tyre, NE17RU
Abstract:The posterior distribution of the likelihood is used to interpret the evidential meaning of P-values, posterior Bayes factors and Akaike's information criterion when comparing point null hypotheses with composite alternatives. Asymptotic arguments lead to simple re-calibrations of these criteria in terms of posterior tail probabilities of the likelihood ratio. (lsquoPriorrsquo) Bayes factors cannot be calibrated in this way as they are model-specific.
Keywords:P-value  likelihood  posterior distribution  Bayes factor  fractional Bayes factor  posterior Bayes factor  AIC
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