Alternative Definitions of Complexity for Practical Applications of Model Selection Criteria

Table 2

Estimates of the various versions of the indicators for the examples of equations (16)–(18).

	BIC	AIC	BICK	AICK	BICBS	AICBS	BICPS	AICPS
Model 1	−1692	−1710	−1692	−1710	−1692	−1710	−1940	−1982
Model 2	−1693	−1735	−1325	−1342	−1693	−1735	−1703	−1720
Model selected	2	2	1	1	2	2	1	1
Result	Wrong	Wrong	Correct	Correct	Wrong	Wrong	Correct	Correct
Relative difference	−0.03%	−1.46%	21.69%	21.50%	−0.03%	−1.46%	12.22%	13.25%

A representative example to show the potential of the BS method is reported in the following. The data have been generated with the equation