I would like first to mention that I am relatively new to the Machine Learning (ML) world, but I have a decent background in statistics and econometrics. I am working on a research paper focusing on the gender labor force participation gap. Using the language of econometrics,
- the dependent (outcome) variable is a binary variable equal to 1 if the individual is in the labor force and 0 if they are not.
- The primary variable is a binary variable equal to 1 if the individual is a female and 0 otherwise.
- In addition to that, I have many control variables that, for convenience, I will stack in a matrix X.
Using classical econometrics approach, I would use a probit model and then find the difference between the probability of being in the labor force between males and females(i.e. Pr(LF=1|female=0, X=x)-Pr(LLF=1|female=1, X=x)).
My question is: is there a machine-learning counterpart for such a method? In other words, is there a machine learning approach that allows me to compare the probability of success (success defined as being in the labor force) of two groups conditional on a set of controls?
I can provide further details if needed. Thanks!