Anchoring effects refer to a phenomenon whereby people make absolute estimates by starting from an initial point (anchor value) and adjusting upwards or downwards to reach their final answers (target values). A number of studies have demonstrated that these adjustments are often insufficient...

This paper highlights the role of polarization in higher education as a key factor to technological leadership as well as to labor market inequality. Higher education polarization refers to the widening gap between elite and non-elite universities, primarily in two dimensions: institutional...

A naturalistic study was employed to explore a new form of “basic anchoring.” In particular, we examined the degree to which decision makers in a financial market, the horserace betting market, anchored their probability judgments excessively on a factor present in the environment at the...

The purpose of this study is to analyze the relationship between privatization in higher education and the quality of universities. An interesting fact is that of the top 10 universities in the US, nine are private. Previous studies have claimed that there is a relationship between the...

Over the decades, the traditional condemnation of slavery has been based not only on philosophical argumentation and moral values, but also on the conjecture that slavery was inefficient. This position led to one of the most passionate debates in economic history on the efficiency of the US...