The anchoring-and-adjustment heuristic: why the adjustments are insufficient.

@article{Epley2006TheAH,
  title={The anchoring-and-adjustment heuristic: why the adjustments are insufficient.},
  author={Nicholas Epley and Thomas D Gilovich},
  journal={Psychological science},
  year={2006},
  volume={17 4},
  pages={311-8}
}
One way to make judgments under uncertainty is to anchor on information that comes to mind and adjust until a plausible estimate is reached. This anchoring-and-adjustment heuristic is assumed to underlie many intuitive judgments, and insufficient adjustment is commonly invoked to explain judgmental biases. However, despite extensive research on anchoring effects, evidence for adjustment-based anchoring biases has only recently been provided, and the causes of insufficient adjustment remain… CONTINUE READING
Highly Influential
This paper has highly influenced 17 other papers. REVIEW HIGHLY INFLUENTIAL CITATIONS
Recent Discussions
This paper has been referenced on Twitter 2 times over the past 90 days. VIEW TWEETS

From This Paper

Figures, tables, and topics from this paper.
137 Citations
39 References
Similar Papers

Citations

Publications citing this paper.
Showing 1-10 of 137 extracted citations

References

Publications referenced by this paper.
Showing 1-10 of 39 references

Inferential correction

  • D. T. Gilbert
  • 2002
Highly Influential
4 Excerpts

Measures of anchoring

  • K. E. Jacowitz, D. Kahneman
  • 1995
Highly Influential
8 Excerpts

Measures of anchoring in estimation tasks

  • K. E. Jacowitz, D. Kahneman
  • Personality and Social Psychology Bulletin
  • 1995
Highly Influential
6 Excerpts

A tale of Tuned Decks ? Anchoring as adjustment and anchoring as activation

  • N. Epley
  • 2004
2 Excerpts

A tale of Tuned Decks? Anchoring as adjustment

  • N. Epley
  • 2004
3 Excerpts

Similar Papers

Loading similar papers…