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Anchoring in surveys of household expectations

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  • Hjalmarsson, Erik
  • Österholm, Pär

Abstract

We assess whether the concept of anchoring – where a respondent’s answer is affected by the reference number stated in the survey question – is related to the characteristics of the respondent. Using a survey of household expectations of Swedish housing prices, we find significant differences in observed anchoring across groups reflecting age, income, homeownership and sex. Implications for the interpretation of survey results are discussed.

Suggested Citation

  • Hjalmarsson, Erik & Österholm, Pär, 2021. "Anchoring in surveys of household expectations," Economics Letters, Elsevier, vol. 198(C).
    • Handle: RePEc:eee:ecolet:v:198:y:2021:i:c:s016517652030447x
    DOI: 10.1016/j.econlet.2020.109687
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    References listed on IDEAS

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    5. Bergman, Oscar & Ellingsen, Tore & Johannesson, Magnus & Svensson, Cicek, 2010. "Anchoring and cognitive ability," Economics Letters, Elsevier, vol. 107(1), pages 66-68, April.
    6. Kristin J. Kleinjans & Arthur Van Soest, 2014. "Rounding, Focal Point Answers And Nonresponse To Subjective Probability Questions," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 29(4), pages 567-585, June.
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    More about this item

    Keywords

    Housing prices; Survey data;

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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