Heterogeneous anchoring and the shift effect in iterative valuation questions |
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Authors: | Frédéric Aprahamian Olivier Chanel Stéphane Luchini |
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Institution: | 1. Université du Sud and GREQAM, France;2. CNRS-GREQAM-IDEP, France |
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Abstract: | In this article, we consider starting point bias as a heterogeneous phenomenon, that is, respondents in contingent valuation surveys do not anchor in the same way. We study the consequences of a mistaken assumption of homogeneous anchoring for the analysis of the shift effect in multiple-bounded dichotomous choice format, when respondents really have heterogeneous anchoring. We show that the shift effect, generally interpreted as incentive incompatibility or “yea”-saying, can be the spurious outcome of disregarded heterogeneous anchoring. |
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