Measures of Fit for Multinomial Discrete Models
Abstract
In a discrete model, the predicted probabilities of a particular event can be matched to the observed (0, I) outcomes and this will give rise to a measure of fit for that event. Previous results for the binomial model are applied to multinomial models. In these models the measure of fit will vary between the various events, indicating that the model performs better for some than for others. In addition to these differential measures of fit for each separate event a single overall measure is constructed for the model as a whole.Download Info
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Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 01-082/4.Length:
Date of creation: 12 Sep 2001
Date of revision:
Handle: RePEc:dgr:uvatin:20010082
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Web page: http://www.tinbergen.nl
Related research
Keywords: Goodness of fit; orthogonal residuals; R2; multinomial logit model;Find related papers by JEL classification:
- R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-10-16 (All new papers)
- NEP-DCM-2001-10-16 (Discrete Choice Models)
- NEP-ECM-2001-10-16 (Econometrics)
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