伍德里奇计量经济学第六版答案Chapter-17.docxVIP

PAGE PAGE # CHAPTER 17 TEACHING NOTES I emphasize to the students that, first and foremost, the reason we use the probit and logit models is to obtain more reasonable functional forms for the response probability. Once we move to a nonlinear model with a fully specified conditional distribution, it makes sense to use the efficient estimation procedure, maximum likelihood. It is important to spend some time on interpreting probit and logit estimates. In particular, the students should know the rules-of-thumb for comparing probit, logit, and LPM estimates. Beginners sometimes mistakenly thi