I know this question may be duplicate but I don't find any answer that I could understand. I am running panel probit estimations. Estimations include interaction terms that I am able to interpret.
Here is the output of the regression :
Decision = -0.73* + 0.86***X1 - 0.46X2 - 1.47***X3 + 1.76***X2X3
X1= Financial incentives
X3= Gender (1 for Male)
I need help to interpret the coefficient of the interaction term. This can be interpreted regarding main effect variable. In the baseline condition : 0 financial incentives, no context, female, there is a significant negative effect. All thing equal, the higher the financial incentives, the higher the probability to take this decision. There is a negative and significant effect of the dummy Male meaning that Female are more prone to take this decision (holding constant the rest).
But I struggle to interpret the interaction term X2X3 : So -0.73 - 0.46 - 1.47 + 1.76 = -0.9. Does this mean that when Context and Male both apply the likelihood to take this decision is still lower than the Baseline condition (-0.9 < -0.73)?
Thank you !