Anchoring is Not a False-Positive: Maniadis, Tufano, and List's (2014) 'Failure-to-Replicate' is Actually Entirely Consistent with the Original
12 Pages Posted: 9 Nov 2013 Last revised: 5 May 2014
Date Written: April 27, 2014
We revisit a recent failure-to-replicate the finding that arbitrary anchors influence monetary valuations. Though in the replication the point estimate is indeed not significantly different from zero, it is also not significantly different from a sizable effect. This is partially explained by a high share of valuations near $0 in the replication, causing a floor effect and augmenting the impact of rounding error. P-curve analysis of the original paper overwhelmingly rejects the possibility that the evidence for anchoring effects is false-positive..
Keywords: anchoring; p-curve; false-positive
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