Share
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.
Source: “Anchoring and cognitive ability” from Economics Letters, Volume 107, Issue 1, April 2010, Pages 66-68
Join 25K+ readers. Get a free weekly update via email here.
Related posts:
What 10 things should you do every day to improve your life?
What do people regret the most before they die?
What five things can make sure you never stop growing and learning?