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Falsifying the Insufficient Adjustment Model: No Evidence for Unidirectional Adjustment From Anchors
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Description: This project contains the preregistration, materials, data, and analysis code for our research on the anchoring effects time hypothesis.
After considering a more or less random number (i.e., an anchor), people’s subsequent estimates are biased towards that number. Such anchoring phenomena have been explained via an adjustment process that ends too early. We present a formalized version of the insufficient adjustment model and derive from it that decreasing the time that people have to adjust from anchors draws their estimates close…
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