http://www.mrrc.isr.umich.edu/publications/papers/pdf/wp100.pdf
Complete Description:This article models respondent behavior in a financial survey with a framework explicitly integrating a respondent’s knowledge of and willingness to reveal his or her financial status. Whether a respondent provides a valid answer, a “don’t know”, or a “refusal” to a financial question depends on the interaction of his or her financial knowledge and preferences regarding revealing the knowledge. Using asset response and nonresponse data from the Health and Retirement Study (2000), we found that knowledge and preferences play interrelated roles in reporting financial information, that a respondent’s age, gender, education, and race and ethnicity are important predictors of respondent behavior, and that race and ethnicity affect a respondent behavior only via their influence on preferences, while gender only via its influence on knowledge. We also found strong heterogeneity in respondents’ financial knowledge and their willingness to reveal the knowledge.
Date Published:Friday, April 01, 2005
Author:Tom Juster, Honggao Cao, Michael Perry and Joseph Lupton
Funding Agency: Social Security Administration
Type: Working paper;
Source: Survey data;
Language: English
Audience: Researcher