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How do people learn? We assess, in a distribution-free manner, subjects' learning and choice rules in dynamic two-armed bandit (probabilistic reversal learning) experiments. To aid in identification and estimation, we use auxiliary measures of subjects' beliefs, in the form of their...
Persistent link: https://www.econbiz.de/10010277527
Surveys that measure subjective states like happiness or preferences often generate discrete ordinal data. Ordered response models, which are commonly used to analyze such data, suffer from a fundamental identification problem. Their conclusions depend on unjustified assumptions about the...
Persistent link: https://www.econbiz.de/10014333771
Surveys that are designed to measure subjective states (e.g., happiness) typically generate ordinal data. A fundamental problem is that methods used to analyse ordinal data (e.g., ordered probit) rely on strong and often unjustified distributional assumptions. In this paper, we propose using...
Persistent link: https://www.econbiz.de/10012588493