One can easily generalize this model to take on values on any other interval by appropriate transformations.
Even though they both rely on an index that is linear in xi combined with a link function,[4] this is not strictly necessary.
More specifically, It immediately becomes clear that this set up is very similar to the binary logit model, with that difference that the y variable can actually take on values in the unit interval.
Many of the estimation techniques for the binary logit model, such as non-linear least squares and quasi-MLE, carry over in a natural way, just like heteroskedasticity adjustments and partial effects calculations.
[5] Extensions to this cross-sectional model have been provided that allow for taking into account important econometric issues, such as endogenous explanatory variables and unobserved heterogeneous effects.