I am doing a multinomial regression and trying to interpret the results: In the basic model there is only one binary predictor variable (0 = high risk scenario, 1 = low risk scenario), the dependent variable has 3 categories (strategy 1,2 or 3).
The output shows that the model is significant and most of the logits as well. However, I am wondering how to interpret the (significant) logits of the intercepts. This is how I am interpreting it: "The likelihood to choose strategy 1 over 2 in a risk-free scenario (the intercept?) is higher/lower, keeping the rest constant." It this the correct way to interpret it?
Thanks in advance.