American Economic Journal:
Microeconomics
ISSN 1945-7669 (Print) | ISSN 1945-7685 (Online)
On the Robustness of Anchoring Effects in WTP and WTA Experiments
American Economic Journal: Microeconomics
vol. 4,
no. 2, May 2012
(pp. 131–45)
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. (JEL C91, D12, D44)Citation
Fudenberg, Drew, David K. Levine, and Zacharias Maniadis. 2012. "On the Robustness of Anchoring Effects in WTP and WTA Experiments." American Economic Journal: Microeconomics 4 (2): 131–45. DOI: 10.1257/mic.4.2.131Additional Materials
JEL Classification
- C91 Design of Experiments: Laboratory, Individual
- D12 Consumer Economics: Empirical Analysis
- D44 Auctions