A benefit because probit modeling (and its close cousin logit modeling) can be customized in an endless variety to extract estimates of a particular state from raw data.

The random utility interpretation of either the MN logit or probit model uses a linear utility specification that cannot accommodate interior solutions with more than one variety (alternative) chosen.

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 ...