Measures of Fit for Multinomial Discrete Models
AbstractIn a discrete model, the predicted probabilities of a particular eventcan be matched to the observed (0, I) outcomes and this will give riseto a measure of fit for that event. Previous results for the binomialmodel are applied to multinomial models. In these models the measureof fit will vary between the various events, indicating that the modelperforms better for some than for others. In addition to these differentialmeasures of fit for each separate event a single overallmeasure is constructed for the model as a whole.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 01-082/4.
Date of creation: 12 Sep 2001
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Goodness of fit; orthogonal residuals; R2; multinomial logit model;
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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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