Glossary of economics research
Results of search for multinomial logit follow:
multinomial logit:
Relatively easy to compute but has the problematic IIA property by
construction. Multinomial probit with correlation between structural
residuals does not suffer from the IIA problem but is computationally
expensive. (Ed.: I don't know why the IIA problem gets sucked into this when
the actual different between logit and probit is the functional form.)
Multinomial logit is available in more software packages than is multinomial
probit.
Source: Broadcast by Clint Cummins of TSP International to rec.econ.research
circa Jun 28, 2000.
Contexts: econometrics
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