Ordered probit

Have you ever played a game where you have to pick the best option from a list of choices? For example, if you were asked to choose between strawberry, chocolate, and vanilla ice cream, you might pick your favorite flavor. What if you had to pick between small, medium, and large ice cream cones?

Ordered probit is a way to figure out how people make choices like this. It's like a game where you have to pick the best option, but instead of ice cream cones, you might be picking between different levels of happiness, pain, or income.

To understand how ordered probit works, let's start with the word "ordered." This means that the choices you're making are in a certain order, like small, medium, and large ice cream cones. You wouldn't choose a large cone if you only wanted a small one, right?

The second word, "probit," is a fancy way of saying "probability." Remember, probability is just a math way of describing how likely something is to happen.

So, ordered probit tries to figure out the probability of you picking a certain choice when you have to pick something in a certain order. It looks at things like your age, gender, or how much money you have to help predict which choice you'll make.

For example, imagine a group of people were asked to pick a shirt size between small, medium, and large. The researchers could look at things like the person's height or weight to figure out which size they're most likely to pick.

Overall, ordered probit is a tool that helps researchers predict how likely people are to make certain choices when given a list of options in a specific order, using factors like age, gender, and income to make those predictions.