What is ridits?

Ridit is a statistical distribution used in Bayesian analysis. It stands for Relative difference (between) two items or distributions. It is similar to the Z-score or the T-score but is specifically designed to handle Bayesian inference. Ridits are used to rank and compare probabilities, and they can be used to make decisions based on the probability rankings of different outcomes. Ridits are commonly used in healthcare research, where they are used to analyze and compare the effectiveness of different treatments. They are also used in finance, where they are used to compare the performance of different investment strategies. In summary, ridits are a useful tool for making probabilistic comparisons, and they have many practical applications in a variety of fields.