On the Robustness of Anchoring Effects in WTP and WTA Experiments
AbstractWe 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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Bibliographic InfoArticle provided by American Economic Association in its journal American Economic Journal: Microeconomics.
Volume (Year): 4 (2012)
Issue (Month): 2 (May)
Other versions of this item:
- Drew Fudenberg & David K Levine & Zacharias Maniadis, 2010. "On the Robustness of Anchoring Effects in WTP and WTA Experiments," Levine's Working Paper Archive 661465000000000312, David K. Levine.
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
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