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

Uri Simonsohn

University of Pennsylvania - The Wharton School

Joseph P. Simmons

University of Pennsylvania - The Wharton School

Leif D. Nelson

University of California, Berkeley - Haas School of Business

Date Written: April 27, 2014

Abstract

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

Suggested Citation

Simonsohn, Uri and Simmons, Joseph P. and Nelson, Leif D., Anchoring is Not a False-Positive: Maniadis, Tufano, and List's (2014) 'Failure-to-Replicate' is Actually Entirely Consistent with the Original (April 27, 2014). Available at SSRN: https://ssrn.com/abstract=2351926 or http://dx.doi.org/10.2139/ssrn.2351926

Uri Simonsohn (Contact Author)

University of Pennsylvania - The Wharton School ( email )

3730 Walnut Street
JMHH 500
Philadelphia, PA 19104-6365
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Joseph P. Simmons

University of Pennsylvania - The Wharton School ( email )

3733 Spruce Street
Philadelphia, PA 19104-6374
United States

Leif D. Nelson

University of California, Berkeley - Haas School of Business ( email )

545 Student Services Building, #1900
2220 Piedmont Avenue
Berkeley, CA 94720
United States

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