Year: 2011
Type: article
Abstract: People must often perform calculations in order to produce a numeric estimate (e.g., a grocery-store shopper estimating the total price of his or her shopping cart contents). The current studies were designed to test whether estimates based on calculations are influenced by comparisons with irrelevant anchors. Previous research has demonstrated that estimates across a wide range of contexts assimilate toward anchors, but none has examined estimates based on calculations. In two studies, we had participants compare the answers to math problems with anchors. In both studies, participants’ estimates assimilated toward the anchor values. This effect was moderated by time limit such that the anchoring effects were larger when the participants’ ability to engage in calculations was limited by a restrictive time limit.
Source: Judgment and Decision Making
Authors: Andrew R. Smith, Paul D. Windschitl
Institution: University of Iowa
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $3,550
OpenAlex ID: W2111366183