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Understanding Economic Behavior Using Open-Ended Survey Data

Author

Listed:
  • Ingar Haaland

    (NHH Norwegian School of Economics, FAIR & CEPR)

  • Christopher Roth

    (University of Cologne, Max Planck Institute for Research on Collective Goods, CEPR & NHH Norwegian School of Economics)

  • Stefanie Stantcheva

    (Harvard University, NBER & CEPR)

  • Johannes Wohlfart

    (University of Cologne, Max Planck Institute for Research on Collective Goods, CEBI & CESifo)

Abstract

We survey the recent literature in economics using open-ended survey data to uncover mechanisms behind economic beliefs and behaviors. We first provide an overview of different applications, including the measurement of motives, mental models, narratives, attention, information transmission, and recall. We next describe different ways of eliciting open-ended responses, including single-item open-ended questions, speech recordings, and AI-powered qualitative interviews. Subsequently, we discuss methods to annotate and analyze such data with a focus on recent advances in large language models. Our review concludes with a discussion of promising avenues for future research.

Suggested Citation

  • Ingar Haaland & Christopher Roth & Stefanie Stantcheva & Johannes Wohlfart, 2025. "Understanding Economic Behavior Using Open-Ended Survey Data," ECONtribute Discussion Papers Series 362, University of Bonn and University of Cologne, Germany.
    • Handle: RePEc:ajk:ajkdps:362
    as

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    File URL: https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_362_2025.pdf
    File Function: First version, 2025
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    More about this item

    Keywords

    Open-ended Questions; Text Data; Methodology; Surveys; Large Language Models;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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