#42 Qualitative Response Models | Linear Probability Model | Logit & Probit Models | Part 3

Welcome to 'Environmental & Resource Economics' course ! This lecture introduces the probit model, another type of qualitative response model. It explains the concept of a latent variable and how the probit model utilizes the cumulative distribution function of a normal distribution. The lecture discusses the estimation of the probit model using maximum likelihood estimation. NPTEL Courses permit certifications that can be used for Course Credits in Indian Universities as per the UGC and AICTE notifications. To understand various certification options for this course, please visit https://nptel.ac.in/courses/130106113 #ProbitModel #LatentVariable #CumulativeDistributionFunction #NormalCDF #MaximumLikelihoodEstimation