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Evaluation of a pseudo-R2 measure for panel probit models
1DIW, GSOEP, Königin-Luise-Str. 5, 14195 Berlin, Germany.
The British Journal of Mathematical and Statistical Psychology
|January 31, 2002
Summary
This study evaluates the pseudo-R2T measure for binary panel probit models. Results show it effectively assesses the goodness of fit for both the systematic component and the correlation structure.
Area of Science:
- Econometrics
- Statistical Modeling
- Biostatistics
Background:
- Binary panel probit models are widely used in various fields.
- Assessing the goodness of fit is crucial for model validation.
- Existing measures may not fully capture model fit in complex structures.
Purpose of the Study:
- To evaluate the performance of the pseudo-R2T measure.
- To determine if pseudo-R2T assesses goodness of fit for binary panel probit models.
- To investigate its ability to capture both systematic and correlation structure fit.
Main Methods:
- A simulation study was conducted.
- The pseudo-R2T measure was applied to simulated binary panel probit models.
- Model fit was assessed based on simulated data properties.
Main Results:
- The pseudo-R2T measure demonstrated effectiveness in evaluating model fit.
- It accurately reflects the goodness of fit for the systematic part of the models.
- The measure also successfully captures the fit of the assumed correlation structure.
Conclusions:
- The pseudo-R2T measure is a valuable tool for binary panel probit models.
- It provides a comprehensive assessment of model fit, including correlation structure.
- This measure enhances the reliability of findings from binary panel probit analyses.
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