One swallow doesn't make a summer: new evidence on anchoring effects
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...
| Main Authors: | , , |
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| Format: | Article |
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American Economic Association
2014
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| Online Access: | https://eprints.nottingham.ac.uk/31360/ |
| _version_ | 1848794184833564672 |
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| author | Maniadis, Zacharias Tufano, Fabio List, John A. |
| author_facet | Maniadis, Zacharias Tufano, Fabio List, John A. |
| author_sort | Maniadis, Zacharias |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T19:12:10Z |
| format | Article |
| id | nottingham-31360 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T19:12:10Z |
| publishDate | 2014 |
| publisher | American Economic Association |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-313602020-05-04T20:15:46Z https://eprints.nottingham.ac.uk/31360/ One swallow doesn't make a summer: new evidence on anchoring effects Maniadis, Zacharias Tufano, Fabio List, John A. 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. American Economic Association 2014-01 Article PeerReviewed Maniadis, Zacharias, Tufano, Fabio and List, John A. (2014) One swallow doesn't make a summer: new evidence on anchoring effects. American Economic Review, 104 (1). pp. 277-290. ISSN 0002-8282 https://www.aeaweb.org/articles.php?doi=10.1257/aer.104.1.277 doi:10.1257/aer.104.1.277 doi:10.1257/aer.104.1.277 |
| spellingShingle | Maniadis, Zacharias Tufano, Fabio List, John A. One swallow doesn't make a summer: new evidence on anchoring effects |
| title | One swallow doesn't make a summer: new evidence on anchoring effects |
| title_full | One swallow doesn't make a summer: new evidence on anchoring effects |
| title_fullStr | One swallow doesn't make a summer: new evidence on anchoring effects |
| title_full_unstemmed | One swallow doesn't make a summer: new evidence on anchoring effects |
| title_short | One swallow doesn't make a summer: new evidence on anchoring effects |
| title_sort | one swallow doesn't make a summer: new evidence on anchoring effects |
| url | https://eprints.nottingham.ac.uk/31360/ https://eprints.nottingham.ac.uk/31360/ https://eprints.nottingham.ac.uk/31360/ |