R2 should not be used to describe behavioral-economic discounting and demand models.
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DOI: 10.1002/jeab.4200
Abstract: Literature concerning operant behavioral economics shows a strong preference for the coefficient of determination (R2) metric to (a) describe how well an applied model accounts for variance and (b) depict the quality of collected data.… read more here.
Keywords: economic discounting; demand; used describe; goodness fit ... See more keywords