Behavioral Econometrics for Psychologists

We make the case that psychologists should make wider use of econometric methods for the estimation of structural models. 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.

• Publication year

  2010

• Venue

  Journal of Economic Psychology

• Publication date

  2010-08-01

• Fields of study

  Economics, Psychology

• Identifiers
  DOI 10.1016/J.JOEP.2010.03.017
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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