Replication data for: One Swallow Doesn't Make a Summer: New Evidence on Anchoring Effects

Principal Investigator(s): View help for Principal Investigator(s) Zacharias Maniadis; Fabio Tufano; John A. List

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Project Citation:

Maniadis, Zacharias, Tufano, Fabio, and List, John A. Replication data for: One Swallow Doesn’t Make a Summer: New Evidence on Anchoring Effects. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112727V1

Project Description

Summary: 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.

Scope of Project

JEL Classification:
C91 Design of Experiments: Laboratory, Individual
D12 Consumer Economics: Empirical Analysis

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Published Versions

V1 [2019-10-11]

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