A test for anchoring and yea-saying in experimental consumption data
By: Arthur van Soest, Michael Hurd.
Contributors: Hurd, Michael.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10462; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10462.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Consumption (Economics) -- Econometric models.
Description: "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"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
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Mode of access: World Wide Web.