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The Effects of Bracketing in Wealth Estimation

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  • Harish Chand
  • Li Gan
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Abstract

The use of bracketing in wealth surveys is sometimes criticized on the grounds that it will encourage respondents to substitute rough guesses for careful thought. In such a manner, the use of bracketing will "crowd out" more specific answers, creating the illusion of a reduction in nonresponse. This paper examines the patterns of wealth response in the first two waves of the Health and Retirement Study. On average, people do not appear to transition to bracketing. New tests of the breakeven level of crowding-out are suggested. Based on the explanatory power of the brackets, the degree of crowding-out which would be necessary to make the use of bracketing counterproductive appears to be much higher than plausible. Copyright 2003 by the International Association for Research in Income and Wealth.

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Bibliographic Info

Article provided by International Association for Research in Income and Wealth in its journal The Review of Income and Wealth.

Volume (Year): 49 (2003)
Issue (Month): 2 (06)
Pages: 273-287

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Handle: RePEc:bla:revinw:v:49:y:2003:i:2:p:273-287

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Cited by:
  1. Li Gan & Guan Gong, 2005. "Subjective Morality Risks and Bequests," 2005 Meeting Papers 900, Society for Economic Dynamics.
  2. Erin Ruel & Robert Hauser, 2013. "Explaining the Gender Wealth Gap," Demography, Springer, vol. 50(4), pages 1155-1176, August.

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