scholarly journals What Stimuli Are Necessary for Anchoring Effects to Occur?

2021 ◽  
Vol 12 ◽  
Author(s):  
Yutaro Onuki ◽  
Hidehito Honda ◽  
Kazuhiro Ueda
Keyword(s):  
Semantic Priming ◽  
Cognitive Bias ◽  
Experimental Studies ◽  
Substantial Contribution ◽  
Numerical Estimation ◽  
Anchoring Effect ◽  
Anchoring Effects

The anchoring effect is a form of cognitive bias in which exposure to some piece of information affects its subsequent numerical estimation. Previous studies have discussed which stimuli, such as numbers or semantic priming stimuli, are most likely to induce anchoring effects. However, it has not been determined whether anchoring effects will occur when a number is presented alone or when the semantic priming stimuli have an equivalent dimension between a target and the stimuli without a number. We conducted five experimental studies (N = 493) using stimuli to induce anchoring effects. We found that anchoring effects did not occur when a number was presented alone or when phrases to induce semantic priming were used without presenting a number. These results indicate that both numerical and semantic priming stimuli must be presented for anchoring effects to occur. Our findings represent a substantial contribution to the literature on anchoring effects by offering insights into how these effects are generated.

Hazard Perception and Anchoring: A Comparison of the Three Models Explaining the Anchoring Effect

2015 ◽  
Vol 10 (4) ◽  
pp. 678-686
Author(s):  
Kazuhisa Nagaya ◽  
◽  
Kazuya Nakayachi
Keyword(s):  
Risk Communication ◽  
Semantic Priming ◽  
Semantic Relatedness ◽  
Disaster Risk ◽  
Experimental Results ◽  
Numerical Estimation ◽  
Hazard Perception ◽  
Anchoring Effect ◽  
A Value

When individuals estimate something numerically, their estimation tends to be close to a value perceived beforehand, called an anchor. This tendency is called “the anchoring effect.” We introduce three hypotheses – the numeric priming hypothesis, the semantic priming hypothesis, and the magnitude priming hypothesis – that explain the anchoring effect. We apply them to participants’ estimation of the number of sufferers in order to examine which model explains the anchoring effect best. Experimental results support the numeric priming hypothesis, indicating that the anchoring effect occurs even when no semantic relatedness exists between the number presented as the prime and the successive numerical estimation. Implications for disaster risk communication are discussed based on the results we obtained.

Anchoring in international merger and acquisition equity decisions: evidence from Chinese firms

2020 ◽  
Vol 15 (3) ◽  
pp. 395-410
Author(s):  
Huimin Xiao
Keyword(s):  
Positive Impact ◽  
Merger And Acquisition ◽  
Tobit Regression ◽  
Strategic Decisions ◽  
Host Countries ◽  
Uncertain Environments ◽  
Content Type ◽  
Anchoring Effect ◽  
Top Managers ◽  
Anchoring Effects

PurposeIn uncertain environments, top managers may be inadvertently affected by the anchor information and make sticky decisions. The purpose of this paper is to examine how anchoring influences international merger and acquisition (M&A) equity decisions.Design/methodology/approachBased on the data of Chinese international M&A deals from 2007 to 2018, this paper uses the Tobit regression method to examine the anchoring effects on international M&A equity decisions.FindingsThe study shows that the acquiring firm's previous international M&A equity level as a self-generated anchor has a positive impact on the focal international M&A equity level. The local market's previous international M&A equity level as an externally provided anchor has a positive impact on the focal international M&A equity level. When there are self-generated anchors and externally provided anchors, the self-generated anchoring effect is stronger than the externally provided anchoring effect. The anchoring effect is stronger when the acquiring firm enters less stable host countries.Research limitations/implicationsThe acquirers in a single-country context may limit the generalizability of the results, and this study does not explicitly determine whether managers' decisions are unintentional or deliberate.Originality/valueThe study contributes to the discussion of equity-based foreign entry mode decisions by exploring anchoring behavior in strategic decisions. It provides an empirical investigation of the different anchoring effects and draws attention to the boundary conditions surrounding anchoring.

Anchoring Effects in Judging Grammaticality of Sentences

1992 ◽  
Vol 75 (1) ◽  
pp. 159-164 ◽  
Author(s):  
Hiroshi Nagata
Keyword(s):  
Contrast Effect ◽  
Intermediate Level ◽  
Anchoring Effect ◽  
The Third ◽  
Anchoring Effects

This study was undertaken to examine the anchoring effect in judgments of the grammaticality of sentences. Thirty-three students judged the target sentences involving an intermediate level of judged grammaticality. The first group of 11 subjects judged the sentences paired with the sentences involving high grammaticality (high anchor); the second group of 11 judged them when paired with the sentences involving low grammaticality (low anchor); and the third group of 11 judged them without being given anchor sentences. Analysis shows a clear contrast effect such that the subjects given low-anchor sentences judged the target sentences as more grammatical, while those given high-anchor sentences tended to judge them as less grammatical. Implications of the findings were discussed as they were related to Chomsky's contention about a native speaker's intuition regarding judgments of grammaticality.

scholarly journals „Unáhlené závěry“ u psychotických onemocnění: přehledová studie

2021 ◽  
Vol 55 (1) ◽  
pp. 55-71
Author(s):  
Mabel Rodriguez ◽  
Petra Šustová
Keyword(s):  
Longitudinal Studies ◽  
Cognitive Bias ◽  
Experimental Studies ◽  
Narrative Review ◽  
Positive Symptoms ◽  
Metacognitive Training ◽  
Jumping To Conclusions

This narrative review describes the most frequently investigated cognitive bias in psychosis – jumping to conclusions. This bias refers to deviance in reasoning, when person reach to the conclusion on the basis of little evidence than it is usual. Experimental studies describe presence of the bias across all psychotic continuum. Jumping to conclusions is most frequently studied in associations with delusions, there are discrepancies between results from metaanalyses and longitudinal studies about the nature of relationship between those two phenomena. Relationship between cognition and this bias remains also unclear. Methodology of measuring this bias is very fragmented, which brings o lots of problems descibed in the article. Last part is dedicated to posibilities and efectivity of metacognitive training, which could lead to decrease in jumping to conclusion and potentially nonfarmacologicaly influence delusion and other positive symptoms.

scholarly journals From Social Information to Social Norms: Evidence from Two Experiments on Donation Behaviour

Games ◽  
2018 ◽  
Vol 9 (4) ◽  
pp. 91 ◽  
Author(s):  
Timo Goeschl ◽  
Sara Kettner ◽  
Johannes Lohse ◽  
Christiane Schwieren
Keyword(s):  
Social Norm ◽  
Social Information ◽  
Experimental Studies ◽  
Dictator Game ◽  
Additional Treatment ◽  
Causal Mechanism ◽  
Student Sample ◽  
Individual Level ◽  
Anchoring Effects ◽  
The Individual

While preferences for conformity are commonly seen as an important driver of pro-social behaviour, only a small set of previous studies has explicitly tested the behavioural mechanisms underlying this proposition. In this paper, we report on two interconnected experimental studies that jointly provide a more thorough and robust understanding of a causal mechanism that links social information (i.e., information about the generosity of others) to donations via changing the perception of a descriptive social norm. In a modified dictator game, Experiment 1 re-investigates this mechanism adding further robustness to prior results by eliciting choices from a non-student sample and by implementing an additional treatment that controls for potential anchoring effects implied by the methods used in previous investigations. Experiment 2 adds further robustness by investigating the link between social information, (descriptive) norm perception and giving at the individual, rather than the group average, level. We find that an exogenous variation of social information influences beliefs about others’ contributions (descriptive social norm) and, through this channel, actual giving. An exploratory analysis indicates that this causal relationship is differently pronounced among the two sexes. We rule out anchoring effects as a plausible confound in previous investigations. The key findings carry over to the individual level.

The Impact of Lookup Tables on Use Tax Reporting

2014 ◽  
Vol 36 (2) ◽  
pp. 117-136 ◽  
Author(s):  
Damon M. Fleming ◽  
Steve L. Gill
Keyword(s):  
The State ◽  
Lookup Table ◽  
Anchoring Effect ◽  
Anchoring Effects ◽  
Lookup Tables ◽  
Use Tax ◽  
Tax Reporting ◽  
The Impact

ABSTRACT This paper examines the anchoring effects that estimates of use tax provided by the state in the form of a “lookup table” have on use tax reporting. Results indicate taxpayers presented with a lookup table are significantly less likely to simply anchor on and report $0 for the amount of use tax due—currently the most commonly reported use tax amount. In addition, significantly more use tax was reported when an aggressive lookup table value (i.e., higher use tax estimate) was provided compared to a conservative lookup table value (i.e., lower use tax estimate) or when no table was available. By contrast, significantly less use tax was reported when a conservative lookup table value was provided compared to when no table was available. Finally, results indicate the anchoring effect of an aggressive lookup table value was magnified when taxpayers had greater uncertainty about the possible amounts of use tax due.

scholarly journals Anchoring Effect as A Cognitive Bias: An Example of a Classroom Experiment

2020 ◽  
Vol 7 (3) ◽  
pp. 608-629
Author(s):  
Mehmet SEVGIN
Keyword(s):  
Economic Theory ◽  
Behavioral Economics ◽  
Cognitive Bias ◽  
Cognitive Biases ◽  
Primary Sources ◽  
Anchoring Effect ◽  
Classroom Experiment ◽  
The Mean ◽  
Biases And Heuristics

Over the last decades, standard economic assumptions are questioned due to some empirical violation examples of the rationality principle in economic theory. Behavioral economists suggest that it is more realistic to call individuals and firms "bounded rational" than rational to solve this inconsistency. Hence, one of the primary sources of these rationalities comes from cognitive biases and heuristics, according to many psychologies and behavioral economics studies. It is assumed that anchoring effect is one of the most robust cognitive biases since it might occur without the individual's awareness. In this study, anchoring effect as a cognitive bias is analyzed with its theoretical and psychological background. In the last section of the study, the findings of a class experiment are presented and discussed. According to the results, when the anchoring effect increases, the anchors' impact on the mean estimations of the subjects also increases. Moreover, when the subjects are explicitly directed to the anchor value, anchoring effect is more influential than a regular incidental anchoring effect. Hence, increases in anchoring effect result in a larger influence on the estimations of the subjects.

Bias and Heuristics

2020 ◽  
pp. 119-126
Author(s):  
Thomas Boraud
Keyword(s):  
Cognitive Bias ◽  
Automatic System ◽  
Cognitive Biases ◽  
Dilution Effect ◽  
Herbert Simon ◽  
Anchoring Effect ◽  
First Impression ◽  
Human Decision ◽  
System 2 ◽  
System 1

This chapter addresses the cognitive bias and heuristics of judgement. It also considers possible underlying neural mechanisms. Economist Herbert Simon introduced the notion of heuristics in judgement to define the approximate rational rules upon which individuals rely to make decisions. Experimental psychologists Daniel Kahneman and Amos Tversky transformed this notion of heuristics by highlighting the cognitive biases that influence judgements. From his work with Tversky, Kahneman elaborated the two-systems theory. According to him, human decision-making is the result of a competition between a fast, automatic system (System 1) that is prone to make mistakes and a slower, more demanding but also more reliable one (System 2). Both systems use heuristics, but the second compensates with anticipation. This chapter then looks at initial bias and beliefs. It also explains the anchoring effect, as well as the dilution effect. Anchoring is the excessive influence of a first impression on judgements.

Anchoring and Grammar Effects in Judgments of Sentence Acceptability

1994 ◽  
Vol 79 (3) ◽  
pp. 1171-1182 ◽  
Author(s):  
Wayne Cowart
Keyword(s):  
Psychological Theory ◽  
Sentence Structure ◽  
Cognitive Mechanisms ◽  
Anchoring Effect ◽  
Anchoring Effects

This study examined the relation between anchoring effects, as demonstrated in 1992 by Nagata, and grammar-based effects in judgments of sentence acceptability. 35 subjects judged the acceptability of target sentences representing six different syntactic types. There were highly robust differences among these sentence types arising from differences in sentence structure. For one group of subjects the target sentences were mingled with a long list of highly acceptable sentences (High Anchor Set). A second group saw the same target sentences with an Anchor Set in which one-third of the sentences were of very low acceptability (Mixed Anchor Set). Target sentences seen in the context of the Mixed Anchor Set were judged more acceptable (an anchoring effect); however, the effect of Anchor Set did not interact with other factors. The relative acceptability of the six target types was unchanged in the two anchor conditions. Implications for the psychological theory of sentence judgments are considered. In particular, it is argued that anchoring effects do not arise in the cognitive mechanisms that evaluate sentence structure.

Scandalous?! Examining the Differential Effects of News Coverage About (Non-)Severe Political Misconduct on Voting Intentions and News Source Evaluations

2020 ◽  
Vol 97 (3) ◽  
pp. 762-789
Author(s):  
Christian von Sikorski
Keyword(s):  
News Coverage ◽  
Experimental Studies ◽  
Public Perceptions ◽  
Political Actors ◽  
Mediation Analyses ◽  
News Sources ◽  
News Source ◽  
Anchoring Effects ◽  
Political Scandals ◽  
Voting Intentions

Scandal severity may affect public perceptions of both scandalous political actors and news sources reporting political misconduct. Yet, research that has empirically tested these assumptions is lacking. Drawing from theory on anchoring effects, the results of two experimental studies conducted using mediation analyses revealed that severe scandals hurt politicians (candidate evaluation) and weaken voting intentions. Although non-severe scandals have no such effects, they increased news consumers’ exaggerated scandalization perceptions and indirectly degraded news source evaluations. Severe scandals had no effect on the news source. Implications for the coverage of political scandals are discussed.

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