Researchers across many domains have examined the impact of externally presented numerical anchors on perceiver judgments. In the traditional paradigm, “anchored” judgments are typically explained as a result of elaborate thinking (i.e., confirmatory hypothesis testing that selectively activates anchor-consistent information in memory). Consistent with a long tradition in attitude change, we su...

Demonstrations of cognitive bias in expert decision makers are often criticised on the basis of their content being irrelevant to the participants. Herein two cognitive biases, anchoring and overconfidence, are shown to occur in batteries designed with questions relevant to the participants’ domains of expertise. Results suggest that neither industry experience nor risk training removes the bia...

Similar to single user decisions, group decisions can be affected by decision biases. In this paper we analyze anchoring effects as a specific type of decision bias in the context of group decision scenarios. On the basis of the results of a user study in the domain of software requirements prioritization we discuss results regarding the optimal time when preference information of other users s...

In Double Bounded Dichotomous Choice (DBDC) Contingent Valuation (CV) studies estimated parameters of the first response equations are used to obtain Mean WTP because of the anchoring bias inherent in follow up responses. In this paper we show that through an efficient scheme of bid design and using a recursive probit model one can arrive at estimates of mean WTP using the follow up responses t...

An ACT-R model of sensemaking in a geospatial intelligence task was developed based on Instance-Based Learning Theory (IBLT). The model (a) maintains hypotheses about the probability of attacks by insurgent groups, (b) seeks new information based on those hypotheses, and (c) updates hypotheses based on new evidence. The model provides a functional account of how these sensemaking processes are ...

This study employs a survey to elicit students’ willingness to pay for health care services at the on-campus student clinic. While analyzing the utility of cost sharing in this context, this study is as much a focus on the survey methods involved in accurately measuring willingness to pay. The study finds that both the possibility of anchoring and acquiescence bias must be seriously addressed i...

Behavioral science has witnessed an explosion in the number of biases identified by behavioral scientists, to more than 200 at present. This article identifies 10 most important for project management. First, we argue it is a mistake equate bias with cognitive bias, as common. Cognitive half story; political other half. Second, list top management: (1) strategic misrepresentation, (2) optimism ...

We employ the fluorescent confocal polarizing microscopy to image edge dislocations in cholesteric liquid crystals. Surface anchoring at the bounding plates determines the structure and behavior of defects. Two types of plates set in-plane director orientation but differ in the type of associated anchoring potentials. Plates with strong polar anchoring and nonzero azimuthal anchoring repel the ...