Bayes factors and posterior estimation: Two sides of the very same coin
American Statistician (Am. Stat.), 2022
Abstract
Recently, several researchers have claimed that conclusions obtained from a Bayes factor may contradict those obtained from Bayesian estimation. In this short paper, we wish to point out that no such "incompatibility" exists if one is willing to consistently define ones priors and posteriors. Our recommendation is simple: If one reports a Bayes factor comparing two models, then one should also report posterior estimates which acknowledge the uncertainty with regards to which of the two models is correct.
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