A Censored Mixture Model for Modeling Risk Taking

• DOI: 10.1007/s11336-021-09839-1
• Publication Date: 2022-02-10T14:03:26Z
• Authors: Nienke F. S. Dijk...; Henning Tiemeier; Bernd Figner; Patrick J. F. Gro...
• Keywords: Censoring (clinical trials)

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