Multinomial Probit

Multinomial Probit

In statistics and econometrics, the multinomial probit model (or multivariate probit model) is a generalization of the probit model used to estimate several correlated binary outcomes jointly. For example, if it is believed that the decisions of sending at least one child to public school and that of voting in favor of a school budget are correlated (both decisions are binary), then the multinomial probit model would be appropriate.