Model comparisons using tournaments: likes, "dislikes," and challenges.

@article{Spiliopoulos2014ModelCU,
  title={Model comparisons using tournaments: likes, "dislikes," and challenges.},
  author={Leonidas Spiliopoulos and Andreas Ortmann},
  journal={Psychological methods},
  year={2014},
  volume={19 2},
  pages={
          230-50
        }
}
We examine the value added of tournaments that compare the predictive power of behavioral models. The advantages and disadvantages of this particular method have not been systematically discussed in the literature; here we aspire to do so. We conclude that tournaments are a useful addition to our arsenal of methods and a significant step forward in the study of the predictive power of behavioral models. Such tournaments are not without limitations, however, and we identify and illustrate… 
View on PubMed
supp.apa.org
6 Citations
Highly Influential Citations
1
Background Citations
1
Methods Citations
2

6 Citations

Citation Type

Citation Type

Beliefs estimated from choices in Proposer-Responder Games
The BCD of response time analysis in experimental economics
TLDR
It is argued that unlocking the potential of RT analysis requires the adoption of process-based models instead of outcome- based models, and how RT in the wild can be captured by time-constrained experiments in the lab is discussed.
The Beauty of Simplicity? (Simple) Heuristics and the Opportunities Yet to Be Realized
Heuristics are all around us, both in the real world and the literature. There are many of them and there are many—too many—definitions of them. In this chapter we focus on the history of fast and…
The BCD of Response Time Analysis in Experimental Economics
For decisions in the wild, time is of the essence. Available decision time is often cut short through natural or artificial constraints, or is impinged upon by the opportunity cost of time.…
From Anomalies to Forecasts: A Choice Prediction Competition for Decisions under Risk and Ambiguity
This paper aims to facilitate the derivation of models that can capture the classical choice anomalies and provide useful forecasts of decisions under risk and ambiguity. Study 1 replicates 14…
From Anomalies to Forecasts: Toward a Descriptive Model of Decisions Under Risk, Under Ambiguity, and From Experience
TLDR
This article analyzes 14 choice anomalies that have been described by different models, including the Allais, St. Petersburg, and Ellsberg paradoxes, and uses a choice prediction competition methodology to clarify the interaction between the different anomalies.

References

SHOWING 1-4 OF 4 REFERENCES
When do people use simple heuristics, and how can we tell?
TLDR
Evidence suggests that heuristics with a cue-wise information search can describe individuals' decision strategies for choice tasks, and results indicate that people indeed use smart and simple decision strategies.
Adaptive Strategy Selection in Decision Making.
Abstract : The authors examine the role of effort and accuracy in the adaptive use of decision processes. A computer simulation study that used the concept of elementary information processes…
The importance of learning when making inferences
The assumption that people possess a repertoire of strategies to solve the inference problems they face has been made repeatedly. The experimental findings of two previous studies on strategy…
The adaptive decision maker
TLDR
The adaptive decision maker: a look backward and a look forward Appendix Footnotes Bibliography.