Results
Panel A of Table 3reports the results of the WESML probit and unweighted probit estimations of the model. The likelihood ratio test indicates that for both estimations, with χ2 statistics (p-values) of 34.5 (0.00) and 129.2 (0.00), the model has significant power. The pseudo-R of 0.306 and 0.371 for, respectively, WESML and unweighted probit indicate that the model has descriptive validity