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.