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| Author: | Broder, A. Schiffer, S. |
| Title: | Bayesian Strategy Assessment in Multi-attribute Decision Making |
| Journal: | Journal of Behavioral Decision Making
2003 : JUL, VOL. 16:3, p. 193-214 |
| Index terms: | STRATEGY METHODOLOGY STRUCTURAL ANALYSIS MODELS |
| Language: | eng |
| Abstract: | Behavioral Decision Research on multi-attribute decision making is plagued with the problem of drawing inferences from behavioral data on cognitive strategies. This bridging problem has been tackled by a range of methodical approaches, namely Structural Modeling (SM), Process Tracing (PT), and comparative model fitting. Whereas SM and PT have been criticized for a number of reasons, the comparative fitting approach has some theoretical advantages as long as the formal relation between theories and data is specified. A Bayesian method is developed that is able to assess, whether an empirical data vector was most likely generated by a 'Take The Best' heuristic, by an equal weight rule, or a compensatory strategy. |
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