Bolton, Gary; Fong, Duncan; Mosquin, Paul - In: Experimental Economics 6 (2003) 3, pp. 311-325
We describe Bayes factor, an explicit measure of the strength of the evidence, the extent to which the data increase or decrease the odds a given hypothesis or model is true. Issues and techniques for deriving a Bayes factor are outlined. We illustrate the technique with data from an ultimatum...