Analyzing Test-Taking Behavior: Decision Theory Meets Psychometric Theory.

@article{Budescu2015AnalyzingTB,
  title={Analyzing Test-Taking Behavior: Decision Theory Meets Psychometric Theory.},
  author={David V. Budescu and Yuanchao Emily Bo},
  journal={Psychometrika},
  year={2015},
  volume={80 4},
  pages={1105-22}
}
We investigate the implications of penalizing incorrect answers to multiple-choice tests, from the perspective of both test-takers and test-makers. To do so, we use a model that combines a well-known item response theory model with prospect theory (Kahneman and Tversky, Prospect theory: An analysis of decision under risk, Econometrica 47:263-91, 1979). Our… CONTINUE READING