A Test for Anchoring and Yea-Saying in Experimental Consumption Data
AbstractIn the experimental module of the AHEAD 1995 data, the sample is randomly split into respondents who get an open-ended question on the amount of total family consumption - with follow-up unfolding brackets (of the form: is consumption $X or more?) for those who answer don t know or refuse - and respondents who are immediately directed to unfolding brackets.In both cases, the entry point of the unfolding bracket sequence is randomized.These data are used to develop a nonparametric test for whether people make mistakes in answering the first bracket question, allowing for any type of selection into answering the open-ended question or not.Two well-known types of mistakes are considered: anchoring and yea-saying (or acquiescence).While the literature provides ample evidence that the entry point in the first bracket question serves as an anchor for follow-up bracket questions, it is less clear whether the answers to the first bracket question are already affected by anchoring.We reject the joint hypothesis of no anchoring and no yea-saying at the entry point.Once yea-saying is taken into account, there is no evidence of anchoring.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2004-27.
Date of creation: 2004
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Other versions of this item:
- van Soest, Arthur & Hurd, Michael, 2008. "A Test for Anchoring and Yea-Saying in Experimental Consumption Data," Journal of the American Statistical Association, American Statistical Association, vol. 103, pages 126-136, March.
- Arthur van Soest & Michael Hurd, 2003. "A Test for Anchoring and Yea-Saying in Experimental Consumption Data," Working Papers 147, RAND Corporation Publications Department.
- Soest, A.H.O. van & Hurd, M., 2008. "A test for anchoring and yea-saying in experimental consumption data," Open Access publications from Tilburg University urn:nbn:nl:ui:12-210599, Tilburg University.
- Arthur van Soest & Michael Hurd, 2004. "A Test for Anchoring and Yea-Saying in Experimental Consumption Data," NBER Working Papers 10462, National Bureau of Economic Research, Inc.
- C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-04 (All new papers)
- NEP-ECM-2004-04-04 (Econometrics)
- NEP-EXP-2004-04-04 (Experimental Economics)
- NEP-MIC-2004-04-04 (Microeconomics)
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