Chapterhybrid2022

The Review on Anchoring Effect

2 citations0/0 files storedAdvances in economics, business and management research/Advances in Economics, Business and Management Research

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Decision-Making and Behavioral Economics Consumer Market Behavior and Pricing Psychology of Social Influence

Abstract

The anchoring effect is very common in life is one of the heuristics.This article reviews the background and mechanism of the anchoring effect.The essay uses real-life applications and case studies to explore the effect of the anchoring effect, and concludes through case studies and real-life findings that the anchoring effect is robust, can make a good impact on some things and also is a very common marketing tool.

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2010A literature review of the anchoring effect 2002The fragile basic anchoring effect 2009The brand anchoring effect: A judgment bias resulting from brand awareness and temporary accessibility 2015Anchoring effects in an experimental auction – Are farmers anchored?2010The role of Internet buyer's product familiarity and confidence in anchoring effect 2021Anchoring effect

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