Zacharias Maniadis Z.Maniadis@soton.ac.uk
One swallow doesn't make a summer: new evidence on anchoring effects
Maniadis, Zacharias; Tufano, Fabio; List, John A.
FABIO TUFANO Fabio.Tufano@nottingham.ac.uk
John A. List email@example.com
Some researchers have argued that anchoring in economic valuations casts doubt on the assumption of consistent and stable preferences. We present new evidence that explores the strength of certain anchoring results. We then present a theoretical framework that provides insights into why we should be cautious of initial empirical findings in general. The model importantly highlights that the rate of false positives depends not only on the observed significance level, but also on statistical power, research priors, and the number of scholars exploring the question. Importantly, a few independent replications dramatically increase the chances that the original finding is true.
|Journal Article Type||Article|
|Publication Date||Jan 1, 2014|
|Journal||American Economic Review|
|Publisher||American Economic Association|
|Peer Reviewed||Peer Reviewed|
|APA6 Citation||Maniadis, Z., Tufano, F., & List, J. A. (2014). One swallow doesn't make a summer: new evidence on anchoring effects. American Economic Review, 104(1), doi:10.1257/aer.104.1.277|
|Copyright Statement||Copyright information regarding this work can be found at the following address: http://eprints.nottingh.../end_user_agreement.pdf|
|Additional Information||Copyright c2015 by the American Economic Association.
Permission to make digital or hard copies of part or all of American Economic Association publications for personal or classroom use is granted without fee provided that copies are not distributed for profit or direct commercial advantage.
Maniadis_Tufano_List 2014 AER - UoN_Repository.pdf
Copyright information regarding this work can be found at the following address: http://eprints.nottingham.ac.uk/end_user_agreement.pdf
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