Abstract
Qualitative choice models are now widely used in economics. However, widely accepted measures evaluating the goodness of fit, predictive quality, or overall-success of such models do not exist, although many approaches have been suggested. Some measures are based on the likelihood-ratio test statistic, while others evaluate the residuals of the qualitative choice regressions, or use prediction-realization tables for analysis. Some measures are discussed in Amemiya (1981), Maddala (1983), Aldrich and Nelson (1984), Judge, Griffiths, Hill, Lütkepohl and Lee (1985) and Greene (1990), but these reviews are far from being complete.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
