Social scientists often consider temporal stability when assessing the usefulness of a construct and its measures, but whether behavioral biases display such stability is relatively unknown. We estimate stability for 25 biases, in a nationally representative sample, using repeated elicitations three years apart. Bias level indicators are largely stable in the aggregate and within-person. Within-person intertemporal rank correlations imply moderate stability and increase dramatically when using other biases as instrumental variables. Additional results reinforce three key inferences: biases are stable, accounting for classical measurement error in bias elicitation data is important, and eliciting multiple measures of multiple biases is valuable.
Behavioral Biases are Temporally Stable
Published 2020 in Social Science Research Network
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- Publication year
2020
- Venue
Social Science Research Network
- Publication date
2020-09-01
- Fields of study
Psychology
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Semantic Scholar
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