Multinomial Probit and Logit Models
The multinomial probit and logit models have a dependent variable that is a categorical, unordered variable. The choices/categories are called alternatives (coded as 1, 2, 3, 4…) and only one alternative can be selected. Examples include the type of insurance contract that an individual selects, and the occupational choice by an individual (business, academic, non-profit organization).
Multinomial probit and logit models: topics covered
Multinomial outcome dependent variable (in wide and long form of data sets)
Independent variables (alternative-invariant or alternative-variant)
Multinomial logit model (coefficients, marginal effects, IIA) and multinomial probit model
Conditional logit model (coefficients, marginal effects)
Mixed logit model (random parameters model)