The Laws of Anchoring When There are Two Anchors

Abstract

A study was conducted to explore the phenomenon of anchoring in situations where two anchors are presented. It was hypothesized that subjects will use the subjective reliability perceived for each source of information as a weight. Three types of anchoring behaviours were founds 1) The algebraic mean of the two potential anchors was used as an anchor. 2) The most reliable source of information was used as an anchor. 3) None of the information sources were used as an anchor.

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