Seeking Advice on Improving MNL Model Fit with Low Rho-square
Posted: 09 May 2024, 17:26
Hi Stephane and community,
I've run a multinomial logit (MNL) model using my dataset as the base model. This initial model, without any interaction terms, resulted in a disappointing model fit, with a Rho-square of less than 0.1. Even after increasing the sample size, there has been no improvement in this model. I have not compared this model to other models yet.
I'm wondering that
1. Is it possible for the base model to show such a low Rho-square, especially lower than 0.1? I'm afraid that I might do something wrong during model estimation.
2. Could you suggest any possible reasons for this outcome? Moreover, I would appreciate any advice on how to enhance the model's fit.
Thank you in advance for your guidance.
I've run a multinomial logit (MNL) model using my dataset as the base model. This initial model, without any interaction terms, resulted in a disappointing model fit, with a Rho-square of less than 0.1. Even after increasing the sample size, there has been no improvement in this model. I have not compared this model to other models yet.
I'm wondering that
1. Is it possible for the base model to show such a low Rho-square, especially lower than 0.1? I'm afraid that I might do something wrong during model estimation.
2. Could you suggest any possible reasons for this outcome? Moreover, I would appreciate any advice on how to enhance the model's fit.
Thank you in advance for your guidance.