ON THE USE OF REGRESSION AND VERBAL PROTOCOL ANALYSIS IN MODELING ANALYSTS BEHAVIOR IN AN UNSTRUCTURED TASK ENVIRONMENT - A METHODOLOGICAL NOTE

We use two techniques - linear regression (LR) and verbal protocol ana lysis (VPA) - to model the decision behavior of four experienced finan cial analysts performing an unstructured valuation task. The research examines the structure and implied data use for each model type. We al so assess the conclusion of prior research that the two techniques are complementary. This research also claims that these techniques are in terchangeable in most decision contexts, in effect treating them as su bstitutes. Our results suggest that the techniques are complementary; however, each adds unique contributions to model development. (C) 1998 Elsevier Science Ltd. All rights reserved.