Relevant information, personality traits and anchoring effect
Year: 2013
Type: article
Abstract: Although personality has been one of the most-studied factors in management and decision-making research, this stream of research has generated inconsistent support for the relationship between personality traits and individuals’ susceptibility to heuristics, and therefore biased judgment. The aim of this study is to investigate how the provision of correct information and individual difference factors influence susceptibility to anchoring effect. To test this hypothesis, individual levels of the personality traits have been measured. Then, participants were provided with an anchoring task involving the Taj Mahal either providing them correct information before the experiment or not. Providing individuals with the correct information limited susceptibility to the irrelevant anchor; even if only 33% of those exactly recalled it when providing the estimate. High values in agreeableness and openness to experience were found to be related with reduced susceptibility to the anchor.
Author: Andrea Caputo
Institution: Princess Sumaya University for Technology
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2104426264