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  4. May 2012
  5. On the Robustness of Anchoring Effects in WTP and WTA Experiments

On the Robustness of Anchoring Effects in WTP and WTA Experiments

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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.4.2.131

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JEL Classification

  • C91 Design of Experiments: Laboratory, Individual
  • D12 Consumer Economics: Empirical Analysis
  • D44 Auctions
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