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Thursday, January 19, 2017

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DR@W Forum - Benjamin Scheibehenne (Geneva)
Wolfson 3

Benjamin Scheibehenne (Geneva)

Bayesian Statistics as an Alternative for Analyzing Data and Testing Hypotheses
Empirical data in Psychology and Economics are often analyzed using null hypothesis significance testing (NHST) and the ritualized calculation of p-values. In my talk, I will point out problems of this approach and I will propose Bayesian methods as a feasible alternative for analyzing data and testing hypotheses. Based on concrete examples from the literature on descriptive social norms and from modelling decision making under risk, I will show that, in contrast to NHST, Bayesian statistics yield consistent results, it can quantify the evidence for both, the null and the alternative hypothesis based on the Bayes factor, it makes prior assumptions explicit, and it is fairly easy to use.

More information | Tags: Draw Forum |

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