@article{00bc73f6edda4073929094d1fe15b660,
title = "QTEST: Quantitative testing of theories of binary choice",
abstract = "The goal of this paper is to make modeling and quantitative testing accessible to behavioral decision researchers interested in substantive questions. We provide a novel, rigorous, yet very general, quantitative diagnostic framework for testing theories of binary choice. This permits the nontechnical scholar to proceed far beyond traditionally rather superficial methods of analysis, and it permits the quantitatively savvy scholar to triage theoretical proposals before investing effort into complex and specialized quantitative analyses. Our theoretical framework links static algebraic decision theory with observed variability in behavioral binary choice data. The article is supplemented with a custom-designed public-domain statistical analysis package, the QTEST software. We illustrate our approach with a quantitative analysis using published laboratory data, including tests of novel versions of {"}Random Cumulative Prospect Theory.{"} A major asset of the approach is the potential to distinguish decision makers who have a fixed preference and commit errors in observed choices from decision makers who waver in their preferences.",
keywords = "Behavioral decision research, Luce's challenge, Order-constrained likelihood-based inference, Probabilistic specification, Theory testing",
author = "Michel Regenwetter and Davis-Stober, {Clintin P.} and Lim, {Shiau Hong} and Ying Guo and Anna Popova and Chris Zwilling and Cha, {Yun Shil} and William Messner",
note = "Funding Information: P. Blavatskyy, M. Brown, E. Bokhari, D. Cavagnaro, J. Busemeyer, A. Gl{\"o}ckner, A. Br{\"o}der, G. Harrison, K. Katsikopoulos, G. Loomes, R. D. Luce, A. A. J. Marley, G. Pogrebna, J. Stevens, N. Wilcox, and attendees at the 2010 and 2011 meetings of the Society for Mathematical Psychology, the 2010, 2011, and 2012 meetings of the Society for Judgment and Decision Making, the 2011 European Mathematical Psychology Group meeting, the 2011 Georgia State CEAR workshop on structural modeling of heterogeneity in discrete choice under risk and uncertainty, the 2012 Warwick workshop on noise and imprecision in individual and interactive decision-making, and the 2012 FUR XV meeting. Regenwetter acknowledges funding under AFOSR Grant No. FA9550-05-1-0356, NIMH Training Grant PHS 2 T32 MH014257, NSF Grant SES No. 08-20009, NSF Grant SES No. 10-62045, and an Arnold O. Beckman Research Award from the University of Illinois at Urbana-Champaign. Davis-Stober was supported by a Dissertation Completion Fellowship of the University of Illinois when working on the theoretical and statistical models. Any opinions, findings, and conclusions or recommendations expressed in this publication are those of the authors and do not necessarily reflect the views of colleagues, funding agencies, or employers. Publisher Copyright: {\textcopyright} 2013 American Psychological Association.",
year = "2014",
doi = "10.1037/dec0000007",
language = "English (US)",
volume = "1",
pages = "2--34",
journal = "Decision",
issn = "2325-9965",
publisher = "American Psychological Association Inc.",
number = "1",
}