Susceptibility to anchoring effects: How openness-to-experience influences responses to anchoring cues
By Todd McElroy, K. Dowd. Judgment and Decision Making, 2007
158 citations recorded by the source corpus.
Previous research on anchoring has shown this heuristic to be a very robust psychological phenomenon ubiquitous across many domains of human judgment and decision-making. Despite the prevalence of anchoring effects, researchers have only recently begun to investigate the underlying factors responsible for how and in what ways a person is susceptible to them. This paper examines how one such factor, the Big-Five personality trait of openness-to-experience, influences the effect of previously presented anchors on participants' judgments. Our findings indicate that participants high in openness-to-experience were significantly more influenced by anchoring cues relative to participants low in this trait. These findings were consistent across two different types of anchoring tasks providing convergent evidence for our hypothesis.
Subfields: Applied Psychology, General Decision Sciences, Sociology and Political Science
View Paper: https://www.semanticscholar.org/paper/b0c83b6fd03e6581cc080857e615f02d875ee6fc
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In Applied Psychology
In General Decision Sciences
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Citations in the corpus
- Two minds, three ways: dual system and dual process models in consumer psychology (2012, background): “Research specifically looking at anchoring and adjustment has found that anchoring cues were more influential on individuals high in openness-to-experience (McElroy and Dowd 2007).”