Anchoring and cognitive ability
Tore Ellingsen (),
Magnus Johannesson () and
Economics Letters, 2010, vol. 107, issue 1, 66-68
We find that the actual willingness to pay for various consumer goods can be manipulated by an uninformative anchor, replicating Ariely et al. (2003). We furthermore demonstrate that the anchoring effect decreases but does not vanish with higher cognitive ability.
Keywords: Anchoring; Cognitive; ability; Experiments; Willingness; to; pay (search for similar items in EconPapers)
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