McFadden Pseudo R-Squared
The McFadden pseudo \(R^2\) compares the log likelihood of the full model (\(L\)) to the log likelihood of the model with just the intercept (\(L_0\), the null model).
\[R^2 = 1.0 - \frac{\ln(L)}{\ln(L_0)}.\]
References
D. McFadden. Conditional logit analysis of qualitative choice behavior. In P. Zarembka, editor, Frontiers in Econometrics, chapter Four, pages 104–142. Academic Press, New York, 1974.