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behavior. Finally, in Study 4, we tested the hypothesis that self-knowledge, despite not eliminating anchoring effects, does … still attenuate anchoring. However, we found no evidence that self-knowledge reduced anchoring: subjects' judgments of their … discuss implications of these findings for research on domain knowledge and anchoring, as well as for research on the …
Persistent link: https://www.econbiz.de/10011145653
Persistent link: https://www.econbiz.de/10009403795
assimilated toward the anchor values. This effect was moderated by time limit such that the anchoring effects were larger when the …
Persistent link: https://www.econbiz.de/10008855789
Previous literature has shown that potential buyers use a reference price or product to form their opinion about the value of a new product. Therefore, the pricing decision is an interactive process. We investigate the two generalizations of the cross-price effect (the neighborhood price effect...
Persistent link: https://www.econbiz.de/10010776894
Differentiated prices, bundling, Web auctions : firms' pricing practices are evolving. When there is no market or for customised pricing, the willingness-to-pay concept seems to be interesting. This article aims at presenting a synthesis of the marketing research stream relative to willingness...
Persistent link: https://www.econbiz.de/10008790743
context-specific cues (anchors), is one of the cornerstones of economic theory. We reexamined the effects of an anchoring … weaker anchoring effects. We performed the same manipulation on the evaluation of binary lotteries, and we found no anchoring … effects. This suggests limits on the robustness of strong anchoring effects. Hence, the evidence that people have "arbitrary …
Persistent link: https://www.econbiz.de/10008692905
We use a subsample bootstrap method to get a consistent estimate of the asymptotically optimal choice of the sample fraction, in the sense of minimal mean squared error, which is needed for tail index estimation. Unlike previous methods our procedure is fully self contained. In particular, the...
Persistent link: https://www.econbiz.de/10005504945
There are two factions in a conflict. A third-party may choose to intervene by supporting one of the factions. We consider a third-party who maximizes a weighted sum of the welfare of the warring factions and the non-combatant population. In the case of a nonmilitary intervention, we obtain the...
Persistent link: https://www.econbiz.de/10005526843
Estimate bias and “no-sales” are investigated in the context of Latin American Art auctions conducted in New York … between 1977 and 1996. We find that, using a new method for calculating bias, both Sotheby's and Christie's overestimated art …
Persistent link: https://www.econbiz.de/10005537026
direction of the implied bias. Two results arise when the estimation accounts for the possibility of heterogeneity. First …, marginal costs become substantially more important in affecting inflation dynamics (i.e. heterogeneity induces a negative bias … an aggregation bias in any disaggregated data. …
Persistent link: https://www.econbiz.de/10005537455