The anchoring-and-adjustment heuristic has been studied in numerous experimental settings and is increasingly drawn upon to explain systematically biased decisions in economic areas as diverse as auctions, real estate pricing, sports betting and forecasting. In these cases, anchors result from...

Traditionally economic theory assumes that preferences are stable facilitating positive predictions of economic policy. While there is conflicting experimental evidence on the temporal stability of cooperation preferences in public goods provision, surprisingly little is known about their...