hi,
I use the example file "tobit_fair.wf1" in the following path:
"C:\Program Files\EViews6\Example Files\EV6 Manual Data\Chapter 30  Discrete and Limited Dependent Variable Models"
when estimate eq_tobit again,it can not report Rsquared.
It has no problem in eviews5.
How can I solve the problem? Thanks!
eviews6 can not report R2 in tobit model
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eviews6 can not report R2 in tobit model
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 EViews Developer
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 Joined: Wed Oct 15, 2008 9:17 am
Re: eviews6 can not report R2 in tobit model
Previous versions of EViews reported *an* R2 measure which was based one of the residuals formed by taking the observed data minus the expected response. This is a perfectly valid R2, but it has some undesirable properties and other better ones have been proposed in the literature (the McFadden R2 is one example). As a result, after some discussion, we decided to not compute an R2 for tobit models in anticipation of a more general set of goodnessoffit measures. There are a number of these measures, and to be honest, we don't believe there is yet a consensus on which ones one should look at.
Most of these, however, can easily be computed using EViews. If you would like to propose a candidate measure, we can discuss how to compute it...
Most of these, however, can easily be computed using EViews. If you would like to propose a candidate measure, we can discuss how to compute it...
Re: eviews6 can not report R2 in tobit model
Hey,
I have exactly this problem. Could you tell me, how to calculate McFadden's R2 for a Tobit Model in Eviews 6? Would be great!
Jan
I have exactly this problem. Could you tell me, how to calculate McFadden's R2 for a Tobit Model in Eviews 6? Would be great!
Jan

 EViews Developer
 Posts: 2622
 Joined: Wed Oct 15, 2008 9:17 am
Re: eviews6 can not report R2 in tobit model
It's pretty simple. Estimate the model twice, once with all of the variables, and once without, then compute
1L_full/L_restricted
where the L are the likelihood functions.
1L_full/L_restricted
where the L are the likelihood functions.

 Posts: 3
 Joined: Mon May 17, 2010 12:20 am
Re: eviews6 can not report R2 in tobit model
EViews Glenn wrote:It's pretty simple. Estimate the model twice, once with all of the variables, and once without, then compute
1L_full/L_restricted
where the L are the likelihood functions.
Hi I apologise in advance I'm pretty new to Eviews. Can you please clarify what you mean by estimate the model without the variables, so the workfile has blank data? And also when you say compute the above equation is that done in the Equation Estimation window(see attachment) where under Estimation SettingsMethod I choose Binary from the drop down menu? If that is the correct window then can you please run me through the steps for computing "1L_full/L_restricted"
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 Eviews question 16 May.docx
 screen shot of Equation Estimation window
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 Posts: 3
 Joined: Mon May 17, 2010 12:20 am
Re: eviews6 can not report R2 in tobit model
p.s. These 2 files might be useful. The first is my balanced dated panel and the second is the notPanel. When I estimate probit I get the same outputs does that look correct? Thank you very much!
Maggie
Maggie
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 Panel estimates.docx
 Estimation output
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