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Behavioral econometrics for psychologists ?

Andersen, Steffen and Harrison, Glenn and Lau, Morten and Rutstroem, Elisabet (2007) 'Behavioral econometrics for psychologists ?', Working Paper. Durham University, Durham.


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.

Item Type:Monograph (Working Paper)
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Status:Not peer-reviewed
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Record Created:07 Dec 2012 10:37
Last Modified:16 Oct 2013 13:33

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