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The durability of anchoring effects

Published on Jul 1, 2001in European Journal of Social Psychology1.775
· DOI :10.1002/ejsp.52
Thomas Mussweiler42
Estimated H-index: 42
Abstract
Recent research suggests that judgmental anchoring is mediated by a selective increase in the accessibility of knowledge about the judgmental target. Anchoring thus constitutes one instance of the judgmental effects of increased knowledge accessibility. Such knowledge accessibility effects have repeatedly been demonstrated to be fairly durable, which suggests that the effects of judgmental anchoring may also persist over time. Consistent with this assumption, three experiments demonstrate that judgmental anchors influence judgment even if they were present one week before the critical judgment is made. In fact, the magnitude of anchoring was found to remain undiminished over this period of time. Copyright © 2001 John Wiley & Sons, Ltd.
  • References (27)
  • Citations (50)
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References27
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Five studies examine the role that category and exemplar knowledge play in the mediation of anchoring effects--the assimilation of an absolute estimate to a previously considered standard. Studies 1 through 3 demonstrate that comparing the target object with a plausible anchor (i.e., a standard that constitutes a possible value for the target) leads to a selective increase in the accessibility of anchor-consistent exemplar knowledge about the target. This easily accessible knowledge is then used...
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#1Matej Lorko (Macquarie University)
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Abstract The success of a business project often relies on the accuracy of its schedule. Inaccurate and overoptimistic schedules can lead to significant project failures. In this paper, we explore whether the presence of anchors, such as relatively uninformed suggestions or expectations of the duration of project tasks, play a role in the project estimating and planning process. Our laboratory experiment contributes to the methodology of investigating the robustness and persistence of the anchor...
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#1Fritz Strack (University of Würzburg)H-Index: 61
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