2016
DOI: 10.7202/1036328ar
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Likelihood and its use in Parameter Estimation and Model Comparison

Abstract: Parameter estimation and model fitting underlie many statistical procedures. Whether the objective is to examine central tendency or the slope of a regression line, an estimation method must be used. Likelihood is the basis for parameter estimation, for determining the best relative fit among several statistical models, and for significance testing. In this review, the concept of Likelihood is explained and applied computation examples are given. The examples provided serve to illustrate how likelihood is rele… Show more

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Cited by 20 publications
(12 citation statements)
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“…Finally, the use of log-likelihood (L2) and AIC has its inherent weakness. With the log-likelihood (L2), the conditional test by subtracting L2 and the number of free parameters between models with T and T + 1 classes do not have an asymptotic chi-squared distribution [44]. With the use of AIC, we acknowledge the limiatation that AIC relies on an asymptotic approximation that may not hold for a given finite data set, compared to BIC which relies on the assumption that the model errors are independent and normally distributed.…”
Section: Strengths and Limitationsmentioning
confidence: 99%
“…Finally, the use of log-likelihood (L2) and AIC has its inherent weakness. With the log-likelihood (L2), the conditional test by subtracting L2 and the number of free parameters between models with T and T + 1 classes do not have an asymptotic chi-squared distribution [44]. With the use of AIC, we acknowledge the limiatation that AIC relies on an asymptotic approximation that may not hold for a given finite data set, compared to BIC which relies on the assumption that the model errors are independent and normally distributed.…”
Section: Strengths and Limitationsmentioning
confidence: 99%
“…Typical tests of fit based on likelihood includes the likelihood ratio test (an exact test for nested models; Wilks, 1938) or AIC, BIC and the like (for non-nested or unrelated models). See Hélie (2006) and Cousineau and Allen (2015) for more on this topic.…”
Section: How Good Is a Fit Of Ez To Data?mentioning
confidence: 99%
“…We compared the performance of the full model to all possible alternative model combinations with different fixed effect structures. For model comparisons, parameters were estimated with maximum‐likelihood approximation, whereas for the best‐fitted model, restricted maximum likelihood was used (Cousineau and Allan 2015). We used pseudo ‐ R 2 as goodness of fit statistic (Nakagawa and Schielzeth 2013) where marginal R 2 (m) indicates the variance explained by the fixed effects and conditional R 2 (c) the variance explained by both fixed and random effects.…”
Section: Methodsmentioning
confidence: 99%