Behavioral Econometrics for Psychologists

Steffen Andersen, Glenn Harrison, Morten Lau and Elisabet Rutstroem ()
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Elisabet Rutstroem: Department of Economics, College of Business Administration, University of Central Florida, USA
Authors registered in the RePEc Author Service: Elisabet Rutstrom

No 2007_08, Department of Economics Working Papers from Durham University, Department of Economics

Abstract: We make the case that psychologists should make wider use of structural econometric methods. 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.

Date: 2007-09-01
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Behavioral econometrics for psychologists (2010)
Working Paper: Behavioral Econometrics for Psychologists (2009)
Working Paper: Behavioral Econometrics for Psychologists (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:dur:durham:2007_08

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