R2 and adjusted R2 may exaggerate a model's true ability to predict the dependent variable in the presence of overfitting, whereas leave-one-out R2 (LOOR2) is robust to overfitting. We demonstrate this by replicating 279 regressions from 100 papers in top economics journals, where the median...

Logistic regression is widely used in complex data analysis. When predictors are at individual level and the response at aggregate level, logistic regression can be estimated using the Maximum Likelihood Estimation (MLE) method with the joint likelihood function formed by Poisson binomial...