Compute LOOIC (leave-one-out cross-validation (LOO) information criterion) and ELPD (expected log predictive density) for Bayesian regressions. For LOOIC and ELPD, smaller and larger values are respectively indicative of a better fit.
looic(model, verbose = TRUE)
A Bayesian regression model.
Toggle off warnings.
A list with four elements, the ELPD, LOOIC and their standard errors.
model <- suppressWarnings(rstanarm::stan_glm( mpg ~ wt + cyl, data = mtcars, chains = 1, iter = 500, refresh = 0 )) looic(model)
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