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Understanding Economic Behavior Using Open-Ended Survey Data

Author

Listed:
  • Haaland, Ingar
  • Roth, Christopher
  • Stantcheva, Stefanie
  • Wohlfart, Johannes

Abstract

We survey the recent literature in economics using open-ended survey data to uncover mechanisms behind economic beliefs and behaviors. We first provide an overview of different applications, including the measurement of motives, mental models, narratives, attention, information transmission, and recall. We next describe different ways of eliciting open-ended responses, including single-item open-ended questions, speech recordings, and AI-powered qualitative interviews. Subsequently, we discuss methods to annotate and analyze such data with a focus on recent advances in large language models. Our review concludes with a discussion of promising avenues for future research.

Suggested Citation

  • Haaland, Ingar & Roth, Christopher & Stantcheva, Stefanie & Wohlfart, Johannes, 2025. "Understanding Economic Behavior Using Open-Ended Survey Data," CEPR Discussion Papers 20270, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:20270
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    File URL: https://cepr.org/publications/DP20270
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    Keywords

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    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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