Not all anchors are created equal

Robert Sugden, Jiwei Zheng and Daniel Zizzo

Journal of Economic Psychology, 2013, vol. 39, issue C, 21-31

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.

Keywords: Anchoring effect; Endowment effect (search for similar items in EconPapers)
JEL-codes: C91 D03 D12 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:39:y:2013:i:c:p:21-31

DOI: 10.1016/j.joep.2013.06.008

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