Abstract
This paper summarizes, as of 2000, the history of the Survey of Consumer Finances (SCF) and the supporting structure for measuring household wealth with that survey. Surveys are the large scientific measurement devices of the social sciences. Each set of observations rests heavily on theories - statistical theories about sampling, missing data, inference, and other such formal issues, cognitive theories about how people perceive the data collection process and respond to it, behavioral theories that deal with the different incentives that operate on all parties in the data collection, and even social theories that address the ways that we interpret the process and its outcomes. Each aspect of these theories has a role in characterizing the ``results'' of the cumulation of processes that make up a survey. For the SCF, the most pressing issues are persuading respondents to participate and, given participation, to provide accurate data. Many measurement problems are amplified by the fact that the distribution of wealth is highly skewed.
Get full access to this article
View all access options for this article.
