Example 45.3: Probit Model with Likelihood function The data, taken from Lee (1974), consist of patient characteristics and a variable indicating whether cancer remission occured.

The logit and probit models have become critical parts of the management researcher's analytical arsenal, growing rapidly from almost no use in the 1980s to appearing in 15% of all articles published ...

We compare how logit (fixed effects) and probit early warning systems (EWS) predict insample and out-of-sample currency crises in emerging markets (EMs). We look at episodes of currency crises that ...