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Behavioral econometrics for psychologists ?

Andersen, Steffen; Harrison, Glenn; Lau, Morten; Rutstroem, Elisabet

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Authors

Steffen Andersen

Glenn Harrison

Elisabet Rutstroem



Abstract

We make the case that psychologists should make wider use of structuraleconometric methods. These methods involve the development of maximumlikelihood estimates of models, where the likelihood function is tailored to thestructural model. In recent years these models have been developed for a wide rangeof behavioral models of choice under uncertainty. We explain the components ofthis methodology, and illustrate with applications to major models from psychology.The goal is to build, and traverse, a constructive bridge between the modelinginsights of psychology and the statistical tools of economists.

Citation

Andersen, S., Harrison, G., Lau, M., & Rutstroem, E. (2007). Behavioral econometrics for psychologists ?

Working Paper Type Working Paper
Publication Date Sep 1, 2007
Deposit Date Dec 7, 2012
Publicly Available Date Dec 7, 2012
Series Title Durham University Business School Economics Finance Accounting Working Papers
Public URL https://durham-repository.worktribe.com/output/1699679
Publisher URL http://www.dur.ac.uk/business/faculty/working-papers/

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