CAN SHIP MOVE WITH LOWERED ANCHOR? EFFECTS OF FOREWARNING AND OVERCONFIDENCE ON SELF-GENERATED AND EXTERNALLY PROVIDED ANCHORS

References: International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM2014, www.sgemsocial.org , SGEM2014 Conference Proceedings, ISBN 978-619-7105-22-3 / ISSN 2367-5659, September 1-9, 2014, Book 1, Vol. 1, 31-38 pp

ABSTRACT
Anchoring effect, systematically influence by random and uninformative starting points, is robust. In a between - subject experiment (N = 199; groups: control, anchoring, with forewarning alone, in conjunction with overconfidence note) we placed the participants in a certain numerical information and then we attempt to diminish the impact of this number of judgments about various issues they did not suffer a knowledge about. The experimental questions were sorted according to the extraction of particular anchor (self – generated or externally provided by the experimenter) and level of expertise (low or high).

Keywords: self-generated anchors, externally provided anchors, reduction of the anchoring effect, cognitive reflection