Behavioral Econometrics for Psychologists

Steffen Andersen, Glenn W. Harrison, Morten Lau, E. Elisabet Rutström

    Publikation: Working paperForskning

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    Abstrakt

    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.

    OriginalsprogEngelsk
    Udgivelses stedFrederiksberg
    UdgiverCentre for Economic and Business Research, Copenhagen Business School
    Antal sider74
    StatusUdgivet - 2007
    NavnCEBR Discussion Paper
    Nummer2007-16

    Citationsformater

    Andersen, S., Harrison, G. W., Lau, M., & Rutström, E. E. (2007). Behavioral Econometrics for Psychologists. Centre for Economic and Business Research, Copenhagen Business School. CEBR Discussion Paper, Nr. 2007-16