Publication | Closed Access
Partial Credit Model
47
Citations
21
References
2016
Year
Credit ScoreEconomicsEngineeringData SciencePartial Credit ModelCredit MarketBusinessItem Response TheoryCategoryx − 1Chapter 3StatisticsFinanceBankruptcy
The partial credit model (PCM) is a model for constructing measures using items with two or more ordered response categories; that is, items scored polytomously. The model is a simple application of Rasch’s model for dichotomies (Volume One,Chapter 3). Specifically, if responses to itemi are recorded in categories a = 0, 1, …Ai , then the probability of a person’s response to itemi being in categoryx rather than in categoryx − 1 is modeled by the PCM, as being governed by Rasch’s model for dichotomies.
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