Fooled by facts: quantifying anchoring bias through a large-scale experiment

Abstract Through a large-scale online field experiment, we provide new empirical evidence for the presence of anchoring bias in people’s judgement due to irrational reliance on piece information that they are initially given. The comparison stimuli and respective responses across different tasks reveals positive, yet complex relationship between anchors participants’ predictions outcomes events future. Participants treatment group were equally susceptible regardless their level engagement, previous performance, or gender. Given strong ubiquitous influence quantified here, should take great care closely monitor regulate distribution facilitate less biased decision making.