A General Framework for Estimating Preferences Using Response Time Data
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arXiv
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| Main Authors: | , , |
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| Format: | Preprint |
| Published: |
2025
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| _version_ | 1866912514255618048 |
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| author | Echenique, Federico Fallah, Alireza Jordan, Michael I. |
| author_facet | Echenique, Federico Fallah, Alireza Jordan, Michael I. |
| contents | We propose a general methodology for recovering preference parameters from data on choices and response times. Our methods yield estimates with fast ($1/n$ for $n$ data points) convergence rates when specialized to the popular Drift Diffusion Model (DDM), but are broadly applicable to generalizations of the DDM as well as to alternative models of decision making that make use of response time data. The paper develops an empirical application to an experiment on intertemporal choice, showing that the use of response times delivers predictive accuracy and matters for the estimation of economically relevant parameters. |
| format | Preprint |
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arxiv_https___arxiv_org_abs_2507_20403 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | A General Framework for Estimating Preferences Using Response Time Data Echenique, Federico Fallah, Alireza Jordan, Michael I. Theoretical Economics Machine Learning We propose a general methodology for recovering preference parameters from data on choices and response times. Our methods yield estimates with fast ($1/n$ for $n$ data points) convergence rates when specialized to the popular Drift Diffusion Model (DDM), but are broadly applicable to generalizations of the DDM as well as to alternative models of decision making that make use of response time data. The paper develops an empirical application to an experiment on intertemporal choice, showing that the use of response times delivers predictive accuracy and matters for the estimation of economically relevant parameters. |
| title | A General Framework for Estimating Preferences Using Response Time Data |
| topic | Theoretical Economics Machine Learning |
| url | https://arxiv.org/abs/2507.20403 |