The robustness of anchoring effects on preferential judgments
Anchoring has been shown to influence numeric judgments in various domains, including preferential judgment tasks. Whereas many studies and a recent Many Labs project have shown robust effects in classic anchoring tasks, studies of anchoring effects on preferential judgments have had inconsistent re...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2019-07-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/19/190426/jdm190426.pdf |
| _version_ | 1797721512403271680 |
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| author | Sangsuk Yoon Nathan M. Fong Angelika Dimoka |
| author_facet | Sangsuk Yoon Nathan M. Fong Angelika Dimoka |
| author_sort | Sangsuk Yoon |
| collection | DOAJ |
| description | Anchoring has been
shown to influence numeric judgments in various domains, including preferential
judgment tasks. Whereas many studies and a recent Many Labs project have shown
robust effects in classic anchoring tasks, studies of anchoring effects on
preferential judgments have had inconsistent results. In this paper, we
investigate the replicability and robustness of anchoring on
willingness-to-pay, which is a widely used measure for consumer preference. We
employ a combination of approaches, aggregating data from previous studies and
also contributing additional replication studies designed to reconcile
inconsistent previous results. We examine the effect of differing experimental
procedures used in prior studies, and test whether publication bias could
contribute to the inconsistent findings. We find that different experimental
procedures used in previous studies do not explain the divergent results, and
that anchoring effects are generally robust to differences in procedures,
participant populations, and experimental settings. |
| first_indexed | 2024-03-12T09:34:21Z |
| format | Article |
| id | doaj.art-a7e7ee1733c7417990d9623a714318ea |
| institution | Directory Open Access Journal |
| issn | 1930-2975 |
| language | English |
| last_indexed | 2024-03-12T09:34:21Z |
| publishDate | 2019-07-01 |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Judgment and Decision Making |
| spelling | doaj.art-a7e7ee1733c7417990d9623a714318ea2023-09-02T13:48:49ZengCambridge University PressJudgment and Decision Making1930-29752019-07-01144470487The robustness of anchoring effects on preferential judgmentsSangsuk YoonNathan M. FongAngelika DimokaAnchoring has been shown to influence numeric judgments in various domains, including preferential judgment tasks. Whereas many studies and a recent Many Labs project have shown robust effects in classic anchoring tasks, studies of anchoring effects on preferential judgments have had inconsistent results. In this paper, we investigate the replicability and robustness of anchoring on willingness-to-pay, which is a widely used measure for consumer preference. We employ a combination of approaches, aggregating data from previous studies and also contributing additional replication studies designed to reconcile inconsistent previous results. We examine the effect of differing experimental procedures used in prior studies, and test whether publication bias could contribute to the inconsistent findings. We find that different experimental procedures used in previous studies do not explain the divergent results, and that anchoring effects are generally robust to differences in procedures, participant populations, and experimental settings.http://journal.sjdm.org/19/190426/jdm190426.pdfanchoring effect valuation willingness-to-pay replication incentive compatibilityNAKeywords |
| spellingShingle | Sangsuk Yoon Nathan M. Fong Angelika Dimoka The robustness of anchoring effects on preferential judgments Judgment and Decision Making anchoring effect valuation willingness-to-pay replication incentive compatibilityNAKeywords |
| title | The robustness of
anchoring effects on preferential judgments |
| title_full | The robustness of
anchoring effects on preferential judgments |
| title_fullStr | The robustness of
anchoring effects on preferential judgments |
| title_full_unstemmed | The robustness of
anchoring effects on preferential judgments |
| title_short | The robustness of
anchoring effects on preferential judgments |
| title_sort | robustness of anchoring effects on preferential judgments |
| topic | anchoring effect valuation willingness-to-pay replication incentive compatibilityNAKeywords |
| url | http://journal.sjdm.org/19/190426/jdm190426.pdf |
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