Discrete Choice

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August 31, 2024 4 min read Definitions
Binary Choice Models: Understanding Discrete Decision-Making
Economics Statistics Binary-Choice Discrete Choice Decision Making Econometrics Logistic Regression
An in-depth look at binary choice models used to analyze decision-making processes involving two distinct alternatives.
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August 31, 2024 3 min read Definitions
Logit Model: A Statistical Tool for Binary Outcomes
Mathematics Statistics Logit Model Discrete Choice Categorical Variables Regression Logistic Distribution
A comprehensive explanation of the logit model, a discrete choice model utilizing the cumulative logistic distribution function, commonly used for categorical dependent variables in statistical analysis.
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August 31, 2024 4 min read Definitions
Probit Model: Discrete Choice Model Based on Cumulative Normal Distribution
Statistics Econometrics Probit Model Regression Discrete Choice Cumulative Normal Distribution Predictive Modeling
An in-depth look into the Probit Model, a discrete choice model used in statistics and econometrics, its historical context, key applications, and its importance in predictive modeling.
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