Consumption and Savings Balances of the Elderly : Experimental Evidence on Survey Response Bias 1

@inproceedings{Hurd1997ConsumptionAS,
  title={Consumption and Savings Balances of the Elderly : Experimental Evidence on Survey Response Bias 1},
  author={Michael D. Hurd and Daniel Mcfadden and Harish Chand and Li Gan and Angela Merrill},
  year={1997}
}
The unfolding bracket method for eliciting quantitative information in economic surveys is effective in reducing item non-response and outliers, but is vulnerable to bias induced by anchoring. To test for anchoring effects, this study introduced an experimental module in the AHEAD (Asset and Health Dynamics of the Oldest Old) panel in which the unfolding bracket (or gate) sequence varied by treatment. We find that there are strong anchoring effects in the two household variables studied… CONTINUE READING
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