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Table 3
Threshold values for evaluating the Bayes factor.
| ln Bm0 | Posterior odds | Evidence for model m |
|---|---|---|
| 1-3 | 3-20 | Positive |
| 3-5 | 20-150 | Strong |
| >5 | >150 | Very strong |
Notes. Threshold values of ln Bm0 correspond to the formalism suggested by Kass & Raftery (1995). We note that |ln Bm0| < 1 presents an inconclusive statement about model preference, and that ln Bm0 < 0 corresponds to evidence in favour of the baseline model.
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