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An Advantage of the Linear Probability Model over Probit or Logit

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  • Caudill, Steven B

Abstract

Linear probability models, logit models, and probit models have been used to estimate dichotomous choice models in the past, but recently, the linear probability model has fallen into disfavor because it can yield predicted probabilities outside the 0-1 interval. However, there are some parameters of interest that can be estimated in the linear probability model, but not in either logit or probit models. If the model contains a dummy variable for membership in some group, and every member of the group has the same value for the dependent variable, the coefficient of the group dummy variable cannot be estimated in logit or probit models, but can be estimated in the linear probability model. Copyright 1988 by Blackwell Publishing Ltd

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Bibliographic Info

Article provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.

Volume (Year): 50 (1988)
Issue (Month): 4 (November)
Pages: 425-27

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Handle: RePEc:bla:obuest:v:50:y:1988:i:4:p:425-27

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Cited by:
  1. Franklin Mixon & Len Trevino, 2005. "Is there gender discrimination in named professorships? An econometric analysis of economics departments in the US South," Applied Economics, Taylor & Francis Journals, vol. 37(8), pages 849-854.
  2. repec:ilo:ilowps:295635 is not listed on IDEAS
  3. Evans, Mary F. & Smith, V. Kerry, 2005. "Do new health conditions support mortality-air pollution effects?," Journal of Environmental Economics and Management, Elsevier, vol. 50(3), pages 496-518, November.
  4. Luis Cabral & Ben Polak, 2007. "Dominant Firms, Imitation, and Incentives to Innovate," Working Papers 07-6, New York University, Leonard N. Stern School of Business, Department of Economics.
  5. Deborah Cobb-Clark & Marie D. Connolly & Christopher Worswick, 2001. "The Job Search and Investments of Immigrant Families," CEPR Discussion Papers 432, Centre for Economic Policy Research, Research School of Economics, Australian National University.

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