Anchoring and cognitive ability

We find that the actual willingness to pay for various consumer goods can be manipulated by an uninformative anchor, replicating Ariely et al. (2003). We furthermore demonstrate that the anchoring effect decreases but does not vanish with higher cognitive ability.

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Year of publication:	2010
Authors:	Bergman, Oscar ; Ellingsen, Tore ; Johannesson, Magnus ; Svensson, Cicek
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 107.2010, 1, p. 66-68
Publisher:	Elsevier
Keywords:	Anchoring Cognitive ability Experiments Willingness to pay

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008551329