Quote:
Originally posted by Rick
The thing that confused me about Benter's reference to using a multinomial logit model was, according to what I've read, in a "multinomial" model you would have more than two values for the dependent variable. Now, I've used a logit model with the typical 0,1 dependent variable but not with more values. And, I'm not sure what the values would represent if I were to use more than two. Benter does refer to the interesting trick of effectively increasing the data by including 2nd or even 3rd place finishes as "winners" and considering only the horses below that position. But that wouldn't seem to create additional values for the dependent variable, only double or triple the data set. Also, can I assume that logit regression is the same as logistic regression or is their some difference that I'm missing?
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I don't remember Benter talking about multinomial, but Bolton and Chapman's original paper had "multinomial" in the title -- maybe they were predicting finish position instead of just won/lost? I don't feel like digging out the paper. The data replication trick was also Bolton & Chapmans.
Logit / Logistic are the same thing.
