The Power of Random Anchors

Anchoring effects are easily observed in on line trading, where the same item is often offered at different by now prices. The power of random anchors has been demonstrated in some unsettling ways. German judges with an average of more than 15 years of experience on the bench first read a description of a woman who had been caught shop lifting. Then rolled a pair of dice that were loaded so that every roll resulted in either a three or a nine. As soon as the dice came to a stop, the judges were asked whether they would sentence the woman to a term in prison,. greater or lesser in months than the number showing on the dice. On average, those who had rolled nine said they would