{"title":"Partisan bias, attribute substitution, and the benefits of an indirect format for eliciting forecasts and judgments of trend","authors":"David A. Comerford , Jack B. Soll","doi":"10.1016/j.ijforecast.2024.11.005","DOIUrl":null,"url":null,"abstract":"<div><div>A majority of Americans reported the economy to be worsening when objective indicators showed it to be recovering. We show that this is symptomatic of attribute substitution—people answer a taxing question as though asked a related easy-to-answer question. An implication of attribute substitution is that forecasts will vary across a direct format, which asks whether the economy will be better in 12 months, versus an indirect format, which asks respondents to rate both current conditions and the conditions they expect for 12 months’ time. We compare these formats in three studies and over 2,000 respondents. Relative to the direct format, the indirect format delivers trends that show greater consensus across Republicans and Democrats; are less equivocal about the course of the US economy; and are more realistic about the magnitude of change in opinion poll data.</div></div>","PeriodicalId":14061,"journal":{"name":"International Journal of Forecasting","volume":"41 2","pages":"Pages 702-715"},"PeriodicalIF":6.9000,"publicationDate":"2024-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Forecasting","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0169207024001092","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
A majority of Americans reported the economy to be worsening when objective indicators showed it to be recovering. We show that this is symptomatic of attribute substitution—people answer a taxing question as though asked a related easy-to-answer question. An implication of attribute substitution is that forecasts will vary across a direct format, which asks whether the economy will be better in 12 months, versus an indirect format, which asks respondents to rate both current conditions and the conditions they expect for 12 months’ time. We compare these formats in three studies and over 2,000 respondents. Relative to the direct format, the indirect format delivers trends that show greater consensus across Republicans and Democrats; are less equivocal about the course of the US economy; and are more realistic about the magnitude of change in opinion poll data.
期刊介绍:
The International Journal of Forecasting is a leading journal in its field that publishes high quality refereed papers. It aims to bridge the gap between theory and practice, making forecasting useful and relevant for decision and policy makers. The journal places strong emphasis on empirical studies, evaluation activities, implementation research, and improving the practice of forecasting. It welcomes various points of view and encourages debate to find solutions to field-related problems. The journal is the official publication of the International Institute of Forecasters (IIF) and is indexed in Sociological Abstracts, Journal of Economic Literature, Statistical Theory and Method Abstracts, INSPEC, Current Contents, UMI Data Courier, RePEc, Academic Journal Guide, CIS, IAOR, and Social Sciences Citation Index.