I always hate these kinds of things which say “you’re given X, what do you want to do” and don’t specify what timeframe, goals, or other resources/investments I already have.
My answers are very different if this is a marginal investment on top of my current allocations vs a sole investment and I have nothing else. Likewise very different if I expect to need the results in 6 months or 20 years, and whether I can change/rebalance in the meantime.
Of course I can no longer change the framing while the survey is running, but for future surveys how would you frame it? Do you think it is worth specifying time-frame, other wealth an so on? I am not sure if most participants of an online survey would carefully read the instructions and actually try to visualise the specified situation.
What I have seen often is the framing “on top of what you already own you have been given...” which implies that you should make your decision based on your current situation. Do you think this would be superior?
it depends on what you’re trying to discern with the question. If you want to know what people would do with a windfall in addition to their current allocation, ask that. but then you probably need to ask some intrusive quesitons about what they previously had.
You could state “X is all you have in the world, and you make enough to live on but not to save additional. which of the following would you choose to save for a vacation in 6 months” or “for retirement in 20 years” or “for emergencies”.
I always hate these kinds of things which say “you’re given X, what do you want to do” and don’t specify what timeframe, goals, or other resources/investments I already have.
My answers are very different if this is a marginal investment on top of my current allocations vs a sole investment and I have nothing else. Likewise very different if I expect to need the results in 6 months or 20 years, and whether I can change/rebalance in the meantime.
Of course I can no longer change the framing while the survey is running, but for future surveys how would you frame it? Do you think it is worth specifying time-frame, other wealth an so on? I am not sure if most participants of an online survey would carefully read the instructions and actually try to visualise the specified situation.
What I have seen often is the framing “on top of what you already own you have been given...” which implies that you should make your decision based on your current situation. Do you think this would be superior?
it depends on what you’re trying to discern with the question. If you want to know what people would do with a windfall in addition to their current allocation, ask that. but then you probably need to ask some intrusive quesitons about what they previously had.
You could state “X is all you have in the world, and you make enough to live on but not to save additional. which of the following would you choose to save for a vacation in 6 months” or “for retirement in 20 years” or “for emergencies”.