Using point forecasts to anchor probabilistic survey scales
We present the results of an experiment where a random subset of the participants in the Bundesbank's household panel receive personalized response scales, centered at each participant's point forecast. Personalized response scales offer two advantages over the standard scale which is cent...
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| Main Authors: | , , , |
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| Format: | Book/Monograph Working Paper |
| Language: | English |
| Published: |
Heidelberg
Universitätsbibliothek Heidelberg
14 Feb. 2024
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| Series: | AWI discussion paper series
no. 743 (January 2024) |
| In: |
AWI discussion paper series (no. 743 (January 2024))
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| DOI: | 10.11588/heidok.00034430 |
| Subjects: | |
| Online Access: | Resolving-System, kostenfrei: https://nbn-resolving.de/urn:nbn:de:bsz:16-heidok-344309 Resolving-System, kostenfrei: https://doi.org/10.11588/heidok.00034430 Verlag, kostenfrei, Volltext: http://www.ub.uni-heidelberg.de/archiv/34430 Verlag, kostenfrei: https://archiv.ub.uni-heidelberg.de/volltextserver/34430/7/using_point_forecast_p743_2024.pdf Resolving-System, kostenfrei: https://nbn-resolving.org/urn:nbn:de:bsz:16-heidok-344309 Langzeitarchivierung Nationalbibliothek, kostenfrei: https://d-nb.info/1319427987/34 Resolving-System, kostenfrei: https://hdl.handle.net/10419/286382 
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| Author Notes: | Christoph K. Becker, Peter Duersch, Thomas A. Eife, Alexander Glas |
| Summary: | We present the results of an experiment where a random subset of the participants in the Bundesbank's household panel receive personalized response scales, centered at each participant's point forecast. Personalized response scales offer two advantages over the standard scale which is centered at zero inflation: First, they mitigate the impact of the central tendency bias which leads respondents to assign greater probability mass to the center of the scale at zero. Second, they eliminate the need to adjust the scale when actual inflation falls outside the range for which the response scale was designed. Our results show that the personalized survey responses are of higher quality in three dimensions: (i) higher internal consistency, (ii) more uni-modal responses, and (iii) a signiftcant reduction in the use of the (minimally informative) unbounded intervals of the response scale. |
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| Physical Description: | Online Resource |
| DOI: | 10.11588/heidok.00034430 |