A Censored Mixture Model for Modeling Risk Taking

Nienke Dijkstra*, Henning Tiemeier, Bernd Figner, PJF (Patrick) Groenen

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

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Abstract

Risk behavior has substantial consequences for health, well-being, and general behavior. The association between real-world risk behavior and risk behavior on experimental tasks is well documented, but their modeling is challenging for several reasons. First, many experimental risk tasks may end prematurely leading to censored observations. Second, certain outcome values can be more attractive than others. Third, a priori unknown groups of participants can react differently to certain risk-levels. Here, we propose the censored mixture model which models risk taking while dealing with censoring, attractiveness to certain outcomes, and unobserved individual risk preferences, next to experimental conditions.
Original languageEnglish
JournalPsychometrika
DOIs
Publication statusPublished - 10 Feb 2022

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