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

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|October 24, 2017
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Area of Science:

  • Survey Methodology
  • Econometrics
  • Gerontology

Background:

  • Survey data accuracy is crucial for economic and health research.
  • Understanding cognitive biases like anchoring and yea-saying is vital for improving survey instruments.
  • Previous research has not fully disentangled the effects of different question formats on these biases.

Purpose of the Study:

  • To develop and apply a nonparametric test to detect specific errors in survey responses.
  • To investigate the presence of anchoring and yea-saying biases in family consumption questions.
  • To compare response errors between open-ended questions and immediate unfolding brackets.

Main Methods:

  • Experimental design with random assignment to two survey conditions: open-ended followed by brackets, or immediate brackets.
  • Development of a nonparametric statistical test to identify response errors beyond typical reporting errors.
  • Analysis of data from the 1995 Assets and Health Dynamics survey (AHEAD) of adults aged 70+.

Main Results:

  • The study rejected the joint hypothesis of no anchoring and no yea-saying.
  • After accounting for yea-saying, no significant evidence of anchoring bias was found at the entry point of the unfolding bracket sequence.
  • The findings suggest yea-saying is a more significant factor than anchoring in this specific survey context.

Conclusions:

  • The method of introducing survey questions (open-ended vs. immediate brackets) impacts response biases.
  • Yea-saying bias influences responses, but anchoring bias does not appear to affect the initial bracket question significantly.
  • These findings have implications for designing more accurate surveys on sensitive topics like family consumption, particularly for older populations.