Not all anchors are created equal

R. Sugden; J. Zheng; D.J. Zizzo

doi:10.1016/j.joep.2013.06.008

Not all anchors are created equal

R. Sugden, J. Zheng, D.J. Zizzo

Research output: Contribution to journal › Article › peer-review

35 Citations (SciVal)

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.

Original language	English
Pages (from-to)	21-31
Number of pages	11
Journal	Journal of Economic Psychology
Volume	39
DOIs	https://doi.org/10.1016/j.joep.2013.06.008
Publication status	Published - 1 Dec 2013

Keywords

Anchoring effect
Endowment effect

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10.1016/j.joep.2013.06.008

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KW - Endowment effect

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Not all anchors are created equal

Abstract

Keywords

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