Bayes Factors Based on p-Values and Sets of Priors With Restricted Strength

This article focuses on the minimum Bayes factor compatible with a p-value, considering a set of priors with restricted strength. The resulting minimum Bayes factor depends on both the strength of the set of priors and the sample size. The results can be used to interpret the evidence for/against the hypothesis provided by a p-value in a way that accounts for the strength of the priors and the sample size. In particular, the results suggest further lowering the p-value cutoff for “statistical significance.”