EconPapers    
Economics at your fingertips  
 

Anchoring Bias in Recall Data: Evidence from Central America

Susan Godlonton, Manuel Hernandez and Mike Murphy

American Journal of Agricultural Economics, 2018, vol. 100, issue 2, 479-501

Abstract: Self-reported retrospective survey data is widely used in empirical work but may be subject to cognitive biases, even over relatively short recall periods. This paper examines the role of anchoring bias in self-reports of objective and subjective outcomes under recall. We use a unique panel-survey dataset of smallholder farmers from four countries in Central America collected over a period of three years. We exploit differences between recalled and concurrent responses to quantify the degree of mental anchoring in survey recall data. We assess whether respondents use their reported value for the most recent period as a cognitive heuristic when recalling the value from a previous period, while controlling for the value they reported earlier. The results show strong evidence of sizeable anchoring bias in self-reported retrospective indicators for both objective measures (income, wages, and working hours) and subjective measures (reports of happiness, health, stress, and well-being). We also generally observe a larger bias in response to negative changes for objective indicators and a larger bias in response to positive changes for subjective indicators.

Keywords: Anchoring bias; recall data; self-reporting; smallholder farmers; Central America (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1093/ajae/aax080 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Anchoring bias in recall data: Evidence from Central America (2016) Downloads
Working Paper: Anchoring Bias in Recall Data: Evidence from Central America (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:100:y:2018:i:2:p:479-501.

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().

 
Page updated 2020-08-01
Handle: RePEc:oup:ajagec:v:100:y:2018:i:2:p:479-501.