Relevant Information Personality Traits and Anchoring

Although personality has been one of the most-studied factors in management and decision-making research, this stream of research has generated inconsistent support for the relationship between personality and reliability on heuristics, and therefore biased judgment. The aim of the current study is to investigate how individual difference factors may influence the reliability on an irrelevant anchor, and if individuals rely on irrelevant anchor even if provided with correct information. To test this hypothesis, individual levels of the personality traits have been measured. Then participants have been provided with an anchoring task involving the Taj Mahal either providing them correct information before the experiment or none. Providing individuals with the correct information limited the reliability on the irrelevant anchor; even if only the 33% of those exactly recalled it when estimating the year. High values in agreeableness and openness to experience have been found to be related with reduced reliability on the anchor