Experimental Economics: Rethinking the Rules
- N. Bardsley, Robin P. Cubitt, G. Loomes, P. Moffatt, C. Starmer, R. Sugden
- Economics
- 1 November 2009
Since the 1980s, there has been explosive growth in the use of experimental methods in economics, leading to exciting developments in economic theory and policy. Despite this, the status of…
Mixture models of choice under risk
- Annalisa Conte, J. Hey, P. Moffatt
- EconomicsExperiments in Economics
- 1 May 2011
Experimetrics: Econometrics for Experimental Economics
- P. Moffatt
- Economics
- 2016
This indispensable book for researchers and advanced students in experimental and behavioural economics who want to come to grips with the field of Experimetrics takes a hands-on approach by explaining STATA commands in detail.
A Microeconometric Test of Alternative Stochastic Theories of Risky Choice
- G. Loomes, P. Moffatt, R. Sugden
- Economics
- 1 March 2002
The random preference, Fechner (or ‘white noise’), and constant error (or ‘tremble’) models of stochastic choice under risk are compared. Various combinations of these approaches are used with…
The Experimetrics of Public Goods: Inferring Motivations from Contributions
- N. Bardsley, P. Moffatt
- Economics
- 1 June 2005
In public goods experiments, stochastic choice, censoring and motivational heterogeneity give scope for disagreement over the extent of unselfishness, and whether it is reciprocal or altruistic. We…
Risk, uncertainty and discrete choice models
- A. Palma, M. Ben-Akiva, Joan L. Walker
- Economics
- 31 July 2008
This paper examines the cross-fertilizations of random utility models with the study of decision making under risk and uncertainty. We start with a description of the expected utility (EU) theory and…
Analyzing Ordered Responses: A Review of the Ordered Probit Model
- A. Daykin, P. Moffatt
- Business
- 2 August 2002
The ordered probit model serves as an appropriate framework for statistical analysis whenever survey responses are ordinal as distinct from numerical. In this article we provide motivation for using…
Hurdle models of loan default
- P. Moffatt
- EconomicsJournal of the Operational Research Society
- 12 January 2005
The double-hurdle model, originally due to Cragg, and conventionally applied to household consumption or labour supply decisions, contains two equations, one which determines whether or not a customer is a potential defaulter (the ‘first hurdle’), and the other which determines the extent of default.
Stochastic Choice and the Allocation of Cognitive Effort
- P. Moffatt
- Economics, Psychology
- 1 December 2005
Data from a risky choice experiment are used to estimate a fully parametric stochastic model of risky choice. As is usual with such analyses, Expected Utility Theory is rejected in favour of a form…
Shocks , individual risk attitude , and vulnerability to poverty among rural households in Thailand and Vietnam
- B. Hardeweg, P. Moffatt
- Economics
- 2012
We examine whether the experience of shocks influences individual risk attitude. We measure risk attitude via a simple survey item, compiled among more than 4,000 households in Thailand and Vietnam.…
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