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On the robustness of anchoring effects in WTP and WTA experiments

On the robustness of anchoring effects in WTP and WTA experiments
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.
1945-7669
131-145
Fudenberg, Drew
87f02132-d1be-4db5-80ee-4e0d6f849111
Levine, David K
e27356ad-d243-4007-9fb6-5c900d619631
Maniadis, Zacharias
70ffa309-94c9-487c-982f-778294ea2a13
Fudenberg, Drew
87f02132-d1be-4db5-80ee-4e0d6f849111
Levine, David K
e27356ad-d243-4007-9fb6-5c900d619631
Maniadis, Zacharias
70ffa309-94c9-487c-982f-778294ea2a13

Fudenberg, Drew, Levine, David K and Maniadis, Zacharias (2012) On the robustness of anchoring effects in WTP and WTA experiments. American Economic Journal: Microeconomics, 4 (2), 131-145. (doi:10.1257/mic.4.2.131).

Record type: Article

Abstract

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.

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Published date: May 2012
Organisations: Economics

Identifiers

Local EPrints ID: 341895
URI: http://eprints.soton.ac.uk/id/eprint/341895
DOI: doi:10.1257/mic.4.2.131
ISSN: 1945-7669
PURE UUID: 7d04e6a3-440e-4612-b542-c9eb90224a9b
ORCID for Zacharias Maniadis: ORCID iD orcid.org/0000-0002-3225-0835

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Date deposited: 06 Aug 2012 15:44
Last modified: 15 Mar 2024 03:43

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Contributors

Author: Drew Fudenberg
Author: David K Levine
Author: Zacharias Maniadis ORCID iD

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