We compare the formation of quantitative infl ation perceptions and expectations from questions asked either in terms of price changes or in terms of the in flation rate in a new socio-economic household survey established at the University of Hamburg. In addition to socio-demographic...

The underlying nature of forecast optimization makes the rational expectations hypothesis (REH) a framework that is theoretically consistent with the expectations formation produced by economic agents under well-defined assumptions of unbiased forecasts and efficient utilization of available...

This paper considers the role of survey design and question phrasing in evaluating the subjective health assessment responses using the Survey of Health, Ageing and Retirement in Europe (SHARE) dataset. A unique feature of this dataset is that respondents were twice asked during the survey to...

The paper compares different procedures to convert in ordinary quantitative indicators the results of qualitative tendency surveys. The main result is that different procedures tend to produce quantitative indicators with a very similar dynamics. A new quantification method based on the...

The rational expectations hypothesis (REH) serves as an appealing mechanism in forming expectations compared to that of extrapolative or adaptive frameworks because of its consistency with the basic principles of maximizing behavior. This argument is particularly true as the basic idea of REH...

This paper evaluates information content of survey data by the means of entropy and dissimilarity measures. Similarities between a priori information (expectations) and a posteriori information (realizations) are assessed for four variables originating from Polish business tendency survey and...

Existing empirical evidence suggest that entrepreneurs are optimists, a finding researchers often interpret as evidence of a behavioral bias in entrepreneurial decision-making. We revisit this claim by analyzing an unusually large survey dataset (180,814 responses) that allows us to create a...

This paper considers the role of question order and framing in evaluating subjective health assessment responses using the Survey of Health, Ageing and Retirement in Europe (SHARE) dataset. In the first wave of this dataset respondents were twice asked to evaluate their health on a five-point...

Existing empirical evidence suggests that entrepreneurs are optimists, a finding researchers often interpret as evidence of a behavioral bias in entrepreneurial decision-making. We revisit this claim by analyzing an unusually large survey dataset (180,814 responses) that allows us to create a...