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A Test for Anchoring and Yea-Saying in Experimental Consumption Data

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  • van Soest, Arthur
  • Hurd, Michael

Abstract

In 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.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

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  • 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.
  • Handle: RePEc:bes:jnlasa:v:103:y:2008:m:march:p:126-136
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    2. Kevin J. Boyle & Hugh F. MacDonald & Hsiang-tai Cheng & Daniel W. McCollum, 1998. "Bid Design and Yea Saying in Single-Bounded, Dichotomous-Choice Questions," Land Economics, University of Wisconsin Press, vol. 74(1), pages 49-64.
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    Cited by:

    1. Thomas F. Crossley & Joachim K. Winter, 2014. "Asking Households about Expenditures: What Have We Learned?," NBER Chapters,in: Improving the Measurement of Consumer Expenditures, pages 23-50 National Bureau of Economic Research, Inc.
    2. Ulf Böckenholt, 2014. "Modeling Motivated Misreports to Sensitive Survey Questions," Psychometrika, Springer;The Psychometric Society, vol. 79(3), pages 515-537, July.
    3. Cobb-Clark, Deborah A. & Stillman, Steven, 2006. "The Retirement Expectations of Middle-Aged Individuals," IZA Discussion Papers 2449, Institute for the Study of Labor (IZA).
    4. Kristin J. Kleinjans & Jinkook Lee, 2006. "The link between individual expectations and savings: Do nursing home expectations matter?," Economics Working Papers 2006-05, Department of Economics and Business Economics, Aarhus University.

    More about this item

    JEL classification:

    • 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

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