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Battery order effects on relative ratings in Likert scales
Likert-scale batteries, sequences of questions with the same ordinal response choices, are often used in surveys to collect information about attitudes on a related set of topics. Analysis of such data often focuses on the study of relative ratings or the likelihood that one item is given a lower (or higher) rating than another item. This work studies how different orderings of the items within a battery and, in particular, the relative location of items affect relative rating distributions. We take advantage of data from the 2012?2014 Survey of Consumer Payment Surveys, in which item order ...
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Priors for the long run
We propose a class of prior distributions that discipline the long-run predictions of vector autoregressions (VARs). These priors can be naturally elicited using economic theory, which provides guidance on the joint dynamics of macroeconomic time series in the long run. Our priors for the long run are conjugate, and can thus be easily implemented using dummy observations and combined with other popular priors. In VARs with standard macroeconomic variables, a prior based on the long-run predictions of a wide class of theoretical models yields substantial improvements in the forecasting ...