Multinomial Probit

Multinomial Probit

In statistics and econometrics, the multinomial probit model (or multivariate probit model) is a generalization of the probit model used to estimate several correlated binary outcomes jointly. For example, if it is believed that the decisions of sending at least one child to public school and that of voting in favor of a school budget are correlated (both decisions are binary), then the multinomial probit model would be appropriate.

Read more about Multinomial ProbitGeneral Specification, Example: Bivariate Probit

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Local Independence Of Irrelevant Alternatives - In Econometrics
... IIA is a property of the multinomial logit and the conditional logit models in econometrics outcomes that could theoretically violate this IIA (such as the outcome of multicandidate ... Generalized extreme value, multinomial probit (also called conditional probit) and mixed logit are alternative models for nominal outcomes which relax IIA ... The multinomial probit model has as a disadvantage that it makes calculation of maximum likelihood infeasible for more than five alternatives as it involves multiple integrals ...
Multinomial Probit - Example: Bivariate Probit
... In the Ordinary Probit model, one latent variable is used, in the bivariate probit model there are two and ... These latent variables are defined as Fitting the bivariate probit model involves estimating the values of ...