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

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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.
Original languageEnglish
Place of PublicationTilburg
PublisherEconometrics
Number of pages34
Volume2004-27
Publication statusPublished - 2004

Publication series

NameCentER Discussion Paper
Volume2004-27

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Keywords

  • consumption
  • nonresponse

Cite this

van Soest, A. H. O., & Hurd, M. (2004). A Test for Anchoring and Yea-Saying in Experimental Consumption Data. (CentER Discussion Paper; Vol. 2004-27). Tilburg: Econometrics.
van Soest, A.H.O. ; Hurd, M. / A Test for Anchoring and Yea-Saying in Experimental Consumption Data. Tilburg : Econometrics, 2004. (CentER Discussion Paper).
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van Soest, AHO & Hurd, M 2004 'A Test for Anchoring and Yea-Saying in Experimental Consumption Data' CentER Discussion Paper, vol. 2004-27, Econometrics, Tilburg.

A Test for Anchoring and Yea-Saying in Experimental Consumption Data. / van Soest, A.H.O.; Hurd, M.

Tilburg : Econometrics, 2004. (CentER Discussion Paper; Vol. 2004-27).

Research output: Working paperDiscussion paperOther research output

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T1 - A Test for Anchoring and Yea-Saying in Experimental Consumption Data

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AU - Hurd, M.

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AB - 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.

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van Soest AHO, Hurd M. A Test for Anchoring and Yea-Saying in Experimental Consumption Data. Tilburg: Econometrics. 2004. (CentER Discussion Paper).