An index used as an aid in choosing between competing models. It is defined as

In statistics, the **Schwarz criterion** (also **Schwarz information criterion (SIC)** or **Bayesian information criterion (BIC)** or **Schwarz-Bayesian information criterion**) is an information criterion.

Wikipedia (2005)

"The Schwarz Criterion is a criterion for selecting among formal econometric models."

About, Inc. (2006)

"...the measure BIC = -2ln*L* + *p*ln*n*. This form is derived from different points of view by Schwarz (1978), Akaike (1977), and Rissanen (1978)."

Hjorth (1994)