We combine choice data in the ultimatum game with the expectations of proposers elicited by subjective probability questions to estimate a structural model of decision making under uncertainty. The model, estimated using a large representative sample of subjects from the Dutch population, allows...

To predict choice behavior, the standard practice of economists has been to infer decision processes from data on observed choices. When decision makers act with partial information, economists typically assume that persons form probabilistic expectations for unknown quantities and maximize...

Recently a growing body of research has studied inference in settings where parameters of interest are partially identified. In many cases the parameter is real-valued and the identification region is an interval whose lower and upper bounds may be estimated from sample data. For this case...

An important objective of empirical research on treatment response is to provide decision makers with information useful in choosing treatments. This paper studies minimax-regret treatment choice using the sample data generated by a classical randomized experiment. Consider a utilitarian social...

This paper investigates what may be learned about treatment response when it is assumed that response functions are monotone, semimonotone, or concave-monotone. Nothing is assumed about the process of treatment selection and cross-individual restrictions on response are not imposed. The idea is...

This paper examines inference on regressions when interval data are available on one variable, the other variables being measured precisely. Let a population be characterized by a distribution "P"("y", "x", "v", "v"-sub-0, "v"-sub-1), where "y" is an element of "R"-super-1, "x" is an element of...

Haavelmo (1944) proposed a probabilistic structure for econometric modeling, aiming to make econometrics useful for decision making. His fundamental contribution has become thoroughly embedded in econometric research, yet it could not answer all the deep issues that the author raised. Notably,...