Hello!! I wish to understand whether I could conduct Exploratory Factor Analysis with binary data (correct/ incorrect). According to Bartholomew, Steele, Moustaki and Galbraith (2008) the options are either using a Pearson's product moment correlation matrix or tetrachoric matrix as the basis for EFA. Also, I should mention that I do not wish to construct parcels.
Could you please provide any references that argue for either approach? Any suggestions would be helpful.
Thanks in advance!!