| Abstract: | Structural equation modelling (SEM) is outlined and compared with two non-linear alternatives, artificial neural networks and “fast and frugal” models. One particular non-linear decision-making situation is discussed, that exemplified by a lexicographic semi-order. We illustrate the use of SEM on a dataset derived from 539 volunteers' responses to questions about food-related risks. Our conclusion is that SEM is a useful member of the armoury of techniques available to the student of human judgement: it subsumes several multivariate statistical techniques and permits their flexible combination, and it provides robust goodness-of-fit statistics and is available in (generally) easy-to-use computer packages. Although the number of tasks for which SEM provides a persuasive psychological model is small, it is very useful in identifying the important variables and their inter-relations that contribute to task performance, and thus can constitute a valuable intermediate staging point between raw data and a fully fledged psychological theory. |
