New method simplifies model selection in Bayesian statistics without prior specification.
The article discusses different ways to choose the best statistical models without needing to specify certain values beforehand. By using a method called Cross-Validation Bayes Factors and a new approach called Geometric Intrinsic Bayes Factors, researchers found a way to make accurate model selections without complex calculations. They discovered that by following a simple rule called the "Bridge Rule," they could determine the right amount of data needed for the Cross-Validation Bayes Factors to work effectively. This method provides a practical and cost-effective way to make informed decisions in Bayesian statistics.