Anchoring Bias in Tto Valuations

A theoretical framework for TTO valuations and a taxonomy of TTO approaches: results from a pilot study

Anchoring Bias in Online Voting

Voting online with explicit ratings could largely reflect people’s preferences and objects’ qualities, but ratings are always irrational, because they may be affected by many unpredictable factors like mood, weather, as well as other people’s votes. By analyzing two real systems, this paper reveals a systematic bias embedding in the individual decision-making processes, namely people tend to gi...

Anchoring and Bias

For example, in one study subjects were asked to give the percent of African countries in the United Nations. In each case, a number between 0 and 100 was assigned as an initial value and the subject was asked if this was too high or two low, and what adjustment needed to be made. Despite the fact that each of the subjects knew that the initial value had been determined randomly (by spinning a ...

"Burn-in, bias, and the rationality of anchoring"

Bayesian inference provides a unifying framework for learning, reasoning, and decision making. Unfortunately, exact Bayesian inference is intractable in all but the simplest models. Therefore minds and machines have to approximate Bayesian inference. Approximate inference algorithms can achieve a wide range of time-accuracy tradeoffs, but what is the optimal tradeoff? We investigate timeaccurac...

Models for Anchoring and Acquiescence Bias in Consumption Data

Item non-response in household survey data on economic variables such as income, assets or consumption is a well-known problem. Follow-up unfolding bracket questions have been used as a tool to collect partial information on respondents that do not answer an open-ended question. It is also known, however, that mistakes are made in answering such unfolding bracket questions. In this paper, we de...