View source for Bayes factor

The '''Bayes factor''' is the ratio of the marginal likelihoods of two competing models given the same data. It is the central quantity in [[Bayesian model comparison|Bayesian model comparison]], quantifying the relative evidence for one model over another. Unlike a p-value, which assumes one model is true, the Bayes factor compares models symmetrically. Computing it requires evaluating the [[Marginal likelihood|marginal likelihood]], an integral that automatically penalizes complexity. For complex models, this integral is often approximated via [[Laplace approximation|Laplace approximation]] or variational methods.

[[Category:Mathematics]] [[Category:Statistics]]