Goodness of Fit Measures in the Tobit Model.

B-Tier
Journal: Oxford Bulletin of Economics and Statistics
Year: 1994
Volume: 56
Issue: 4
Pages: 485-99

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

It would be useful to have a goodness-of-fit measure that would both facilitate comparisons (1) among Tobit equations and (2) between Tobit equations and OLS equations. This paper suggests a number of possibilities and then provides Monte Carlo results that permit comparisons of the values of different measure. Also it is noted that point (2) suggests that a Pseudo-R[superscript]2 be chosen which is best able to mimic the OLS-R[superscript]2. Under this criterion, a modification of a measure developed by R. McKelvey and W. Zavoina is consistently superior. Copyright 1994 by Blackwell Publishing Ltd

Technical Details

RePEc Handle
repec:bla:obuest:v:56:y:1994:i:4:p:485-99
Journal Field
General
Author Count
2
Added to Database
2026-01-29