Steffen Andersen
Behavioral econometrics for psychologists ?
Andersen, Steffen; Harrison, Glenn; Lau, Morten; Rutstroem, Elisabet
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/ |
Files
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(1.5 Mb)
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