The too-much precision effect: When and why precise anchors backfire with experts
Past research has suggested a fundamental principle of price precision: The more precise an opening price, the more it anchors counteroffers. The present research challenges this principle by demonstrating a too-much-precision effect. Five experiments (involving 1,320 experts and amateurs in real-es...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2016
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/5171 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6170/viewcontent/Too_much_precision_effect_2016_PS_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |