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The Review on Anchoring Effect

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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  • Yu Jin

    (Beijing Global Education International Division)

Abstract

The anchoring effect is very common in life is one of the heuristics. This article reviews the background and mechanism of the anchoring effect. The essay uses real-life applications and case studies to explore the effect of the anchoring effect, and concludes through case studies and real-life findings that the anchoring effect is robust, can make a good impact on some things and also is a very common marketing tool.

Suggested Citation

  • Yu Jin, 2022. "The Review on Anchoring Effect," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 191-197, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_23
    DOI: 10.2991/978-94-6463-052-7_23
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