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Not all anchors are created equal
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Sugden, Robert, Zheng, Jiwei and Zizzo, Daniel John (2013) Not all anchors are created equal. Journal of Economic Psychology, Volume 39 . pp. 21-31. doi:10.1016/j.joep.2013.06.008 ISSN 0167-4870.
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Official URL: http://dx.doi.org/10.1016/j.joep.2013.06.008
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: | Journal Article | ||||||||||
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| Subjects: | H Social Sciences > HF Commerce | ||||||||||
| Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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| Library of Congress Subject Headings (LCSH): | Economics -- Psychological aspects, Consumption (Economics) | ||||||||||
| Journal or Publication Title: | Journal of Economic Psychology | ||||||||||
| Publisher: | Elsevier BV | ||||||||||
| ISSN: | 0167-4870 | ||||||||||
| Official Date: | December 2013 | ||||||||||
| Dates: |
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| Volume: | Volume 39 | ||||||||||
| Page Range: | pp. 21-31 | ||||||||||
| DOI: | 10.1016/j.joep.2013.06.008 | ||||||||||
| Status: | Peer Reviewed | ||||||||||
| Publication Status: | Published | ||||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||||
| Date of first compliant deposit: | 29 December 2015 | ||||||||||
| Date of first compliant Open Access: | 29 December 2015 | ||||||||||
| Funder: | Economic and Social Research Council (Great Britain) (ESRC), University of East Anglia | ||||||||||
| Grant number: | RES-578-28-0002 (ESRC) |
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