caa a22 4500 606242147 CHVBK 20210128101317.0 cr unu---uuuuu 210128e20151201xx s 000 0 eng 10.1007/s11336-014-9425-x doi (NATIONALLICENCE)springer-10.1007/s11336-014-9425-x Analyzing Test-Taking Behavior: Decision Theory Meets Psychometric Theory [Elektronische Daten] [David Budescu, Yuanchao Bo] We investigate the implications of penalizing incorrect answers to multiple-choice tests, from the perspective of both test-takers and test-makers. To do so, we use a model that combines a well-known item response theory model with prospect theory (Kahneman and Tversky, Prospect theory: An analysis of decision under risk, Econometrica 47:263-91, 1979). Our results reveal that when test-takers are fully informed of the scoring rule, the use of any penalty has detrimental effects for both test-takers (they are always penalized in excess, particularly those who are risk averse and loss averse) and test-makers (the bias of the estimated scores, as well as the variance and skewness of their distribution, increase as a function of the severity of the penalty). The Psychometric Society, 2014 multiple-choice tests nationallicence guessing nationallicence formula scoring nationallicence partial information nationallicence decision theory nationallicence loss aversion nationallicence mis-calibration of probabilities nationallicence Budescu David Depertament of Psychology, Fordham University, 441 East Fordham Road, 100458, Bronx, NY, USA aut Bo Yuanchao Depertament of Psychology, Fordham University, 441 East Fordham Road, 100458, Bronx, NY, USA aut Psychometrika Springer US; http://www.springer-ny.com 80/4(2015-12-01), 1105-1122 0033-3123 80:4<1105 2015 80 11336 https://doi.org/10.1007/s11336-014-9425-x text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s11336-014-9425-x text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Budescu David Depertament of Psychology, Fordham University, 441 East Fordham Road, 100458, Bronx, NY, USA aut NATIONALLICENCE 700 1- Bo Yuanchao Depertament of Psychology, Fordham University, 441 East Fordham Road, 100458, Bronx, NY, USA aut NATIONALLICENCE 773 0- Psychometrika Springer US; http://www.springer-ny.com 80/4(2015-12-01), 1105-1122 0033-3123 80:4<1105 2015 80 11336