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

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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:	Journal Article
Subjects:	H Social Sciences > HF Commerce
Divisions:	Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School
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:	Date Event December 2013 Published 9 July 2013 Available 30 June 2013 Accepted 22 December 2012 Submitted
Date of first compliant deposit:	29 December 2015
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
Funder:	Economic and Social Research Council (Great Britain) (ESRC), University of East Anglia
Grant number:	RES-578-28-0002 (ESRC)

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