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Anchoring and cognitive ability

By Oscar Bergman, Tore Ellingsen, Magnus Johannesson and Cicek Svensson


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.Anchoring Cognitive ability Experiments Willingness to pay

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