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McFadden Pseudo R-Squared

The McFadden pseudo R2 compares the log likelihood of the full model (L) to the log likelihood of the model with just the intercept (L0, the null model).

R2=1.0ln(L)ln(L0).

References

  • D. McFadden. Conditional logit analysis of qualitative choice behavior. In P. Zarembka, editor, Frontiers in Econometrics, chapter Four, pages 104–142. Academic Press, New York, 1974.