November 1, 1995Personality and Social Psychology Bulletin
Measures of Anchoring in Estimation Tasks
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Implication
Randomized trial examines anchoring effects on estimates, suggesting significant biases in judgment.
Key Points
- This research investigates how anchoring affects estimates in uncertain tasks and measures its impact quantitatively.
- Participants estimate uncertain quantities after evaluating an anchor (specified number) in relation to the true value.
- Anchors are set at the 15th and 85th percentiles based on calibration group estimates to assess biases.
- Results from anchored estimates are transformed into percentiles for analysis, allowing comparisons across tasks.
- Initial judgments influenced by the anchor show an anchoring-like bias, affecting estimation accuracy.
- A significant relation is found between anchoring effects and subjective confidence levels in estimates.
Cite This Study
Jacowitz et al. (1995) studied this question.