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Title:
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Behavioral Econometrics for Psychologists
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Author:
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Andersen, Steffen; Harrison, Glenn W.; Lau, Morten Igel; Rutström, Elisabet E. |
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Abstract:
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We make the case that psychologists should make wider use of econometric
methods for the estimation of structural models. These methods involve the
development of maximum likelihood estimates of models, where the likelihood
function is tailored to the structural model. In recent years these models have been
developed for a wide range of behavioral models of choice under uncertainty. We
explain the components of this methodology, and illustrate with applications to
major models from psychology. The goal is to build, and traverse, a constructive
bridge between the modeling insights of psychology and the statistical tools of
economists. |
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URI:
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http://hdl.handle.net/10398/7800
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Date:
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2009-05-28 |
This work is licensed under a Creative Commons License.
