The Effect of Regulatory Focus on the Anchoring Bias
This research examines the effect of regulatory focus on anchoring bias in consumers’ numerical judgments (e.g., willingness to pay). We hypothesize that prevention focus leads to stronger anchoring effect, compared to promotion focus. This is because prevention focus fosters a more vigilant and focused processing style, which leads to greater reliance on anchor-consistent information. In contrast, promotion focus encourages a more explorative and inclusive processing style, which increases the accessibility of anchor-inconsistent information. Results from two experiments support this prediction.
Shenghui Zhao and Rongrong Zhou (2008) ,"The Effect of Regulatory Focus on the Anchoring Bias", in NA - Advances in Consumer Research Volume 35, eds. Angela Y. Lee and Dilip Soman, Duluth, MN : Association for Consumer Research, Pages: 912-912.
Shenghui Zhao, University of Miami
Rongrong Zhou, Hong Kong University of Science and Technology, China
NA - Advances in Consumer Research Volume 35 | 2008
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