Logit vs Probit #econometrics #machinelearning #statistics

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Should I use Logit or Probit? I give a short summary of the key commonalities and considerations when you ask yourself this question.

Bibliography:
Berry, Steven T., and Philip A. Haile. "Foundations of demand estimation." In Handbook of industrial organization, vol. 4, no. 1, pp. 1-62. Elsevier, 2021.
Greene, William H. Econometric Analysis. 7th ed. Upper Saddle River, NJ: Pearson, 2011.
Stock, James H., and Mark W. Watson. Introduction to Econometrics, Update. 3rd ed. Upper Saddle River, NJ: Pearson, 2014.
Train, Kenneth E. Discrete choice methods with simulation. Cambridge university press, 2009.
Wooldridge, Jeffrey M. Econometric Analysis of Cross Section and Panel Data. 2nd ed. The MIT Press. London, England: MIT Press, 2010.
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