Comparison among Akaike Information Criterion, Bayesian Information Criterion and Vuong's test in Model Selection: A Case Study of Violated Speed Regulation in Taiwan

Abstract

When doing research on scientific issues, it is very significant if our research issues are closely connected to real applications. In reality, when analyzing data in practice, there are frequently several models that can appropriate to the survey data. Hence, it is necessary to have a standard criterion to choose the most ecient model. In this article, our primary interest is to compare and discuss about the criteria for selecting a model and its applications. The authors provide approaches and procedures of these methods and apply to the traffic violation data where we look for the most appropriate model among Poisson regression, Zero-inflated Poisson regression and Negative binomial regression to capture between number of violated speed regulations and some factors including distance covered, motorcycle engine and age of respondents by using AIC, BIC and Vuong's test. Based on results on the training, validation and test data set, we find that the criteria AIC and BIC are more consistent and robust performance in model selection than the Vuong's test. In the present paper, the authors also discuss about advantages and disadvantages of these methods and provide some of the suggestions with potential directions in future research.

This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium provided the original work is properly cited.