On the Robustness of Anchoring Effects in WTP and WTA Experiments

We reexamine the effects of the anchoring manipulation of Ariely, Loewenstein, and Prelec (2003) on the evaluation of common market goods and find very weak anchoring effects. We perform the same manipulation on the evaluation of binary lotteries, and find no anchoring effects at all. This suggests limits on the robustness of anchoring effects. (JEL C91, D12, D44)

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Year of publication:	2012
Authors:	Fudenberg, Drew ; Levine, David K. ; Maniadis, Zacharias
Published in:	American Economic Journal: Microeconomics. - American Economic Association - AEA. - Vol. 4.2012, 2, p. 131-45
Publisher:	American Economic Association - AEA

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Extent:	application/pdf application/zip
Type of publication:	Article
Notes:	DOI: 10.1257/mic.4.2.131
Classification:	C91 - Laboratory, Individual Behavior ; D12 - Consumer Economics: Empirical Analysis ; D44 - Auctions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010599057