Knowledge matters: Anchoring effects are moderated by knowledge level
Article first published online: 17 DEC 2012
Copyright © 2012 John Wiley & Sons, Ltd.
European Journal of Social Psychology
Volume 43, Issue 1, pages 97–108, February 2013
How to Cite
Smith, A. R., Windschitl, P. D. and Bruchmann, K. (2013), Knowledge matters: Anchoring effects are moderated by knowledge level. Eur. J. Soc. Psychol., 43: 97–108. doi: 10.1002/ejsp.1921
- Issue published online: 29 JAN 2013
- Article first published online: 17 DEC 2012
- Manuscript Accepted: 7 OCT 2012
- Manuscript Revised: 5 OCT 2012
- Manuscript Received: 23 JAN 2012
Previous research into the relationship between knowledge level and anchoring effects has led to mixed conclusions. This paper presents four studies that used a diverse set of stimuli and paradigms to further investigate this relationship. In Study 1, greater knowledge was associated with smaller anchoring effects—both when knowledge was measured using subjective self-assessments and when using an objective knowledge measure. In Study 2, participants from the USA and India tended to exhibit smaller anchoring effects when answering questions about their own country as compared with questions about the other country. In Study 3, higher knowledge was associated with smaller anchoring effects when examined at an idiographic level. Finally, in Study 4, providing participants with information designed to increase their knowledge led to a decrease in anchoring effects. The consistency of the results across our four studies provides evidence that anchoring effects are moderated by knowledge level in many situations. Copyright © 2012 John Wiley & Sons, Ltd.