Not all anchors are created equal

Sugden, R., Zheng, J. and Zizzo, D.J. (2013) Not all anchors are created equal. Journal of Economic Psychology, 39. pp. 21-31. ISSN 0167-4870

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Abstract

We investigate the effects of a range of different types of anchor on WTP and WTA valuations of familiar consumer products, elicited through individuals' buying or selling decisions at given prices. We find anchoring effects only when the anchor value is framed as a plausible price for the good for which the individual is a potential buyer or seller. Anchoring effects are stronger for WTA than for WTP. We conclude that anchoring effects can affect market behaviour, but that not all anchors are effective.

Item Type:	Article
Uncontrolled Keywords:	anchoring effect,endowment effect
Faculty \ School:	Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Economic Theory Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Groups > Behavioural Economics
Related URLs:	http://www.scopus.com/inward/record.url?...
Depositing User:	Pure Connector
Date Deposited:	15 Nov 2013 14:04
Last Modified:	18 Apr 2023 23:44
URI:	https://ueaeprints.uea.ac.uk/id/eprint/44532
DOI:	10.1016/j.joep.2013.06.008

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