A new approach in model selection for ordinal target variables

03/05/2020

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by   Elena Ballante, et al.

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This paper introduces a novel approach to assess model performance for predictive models characterized by an ordinal target variable in order to satisfy the lack of suitable tools in this framework. Our methodological proposal is a new index for model assessment which satisfies mathematical properties and can be easily computed. In order to show how our performance indicator works, empirical evidence achieved on a toy examples and simulated data are provided. On the basis of results at hand, we underline that our approach discriminates better for model selection with respect to performance indexes proposed in the literature.