anchoring

Boosting Transit Ridership – $2 at a Time
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Boosting Transit Ridership – $2 at a Time

Environment, Energy & Transportation, Government & Civic Behavior

Boosting Transit Ridership – $2 at a Time

A majority of commuters in the US choose to drive alone. We aimed to understand the influence of monetary incentives and anchoring on the transportation choices of residents in Los Angeles, California. Our key results included willingness to accept values averaging around $7, a difference in acceptance rates between anchoring treatment groups, and a significant change in acceptance rates when shown double-digit compared to single-digit values. This presents an opportunity for transit-based companies to invest in monetary incentive schemes to boost sustainable mode use.

By Bhargav Shetgaonkar|2022-11-08T07:59:42+00:00August 16th, 2022|Categories: Environment, Energy & Transportation, Government & Civic Behavior|Tags: anchoring, commute, incentives, Los Angeles, sustainability|

Anchors Aweigh! How Early Perceptual Information Biases Subsequent Judgments

Anchoring and adjustment, a ubiquitous heuristic process in judgment and decision making, has been vastly demonstrated in the numerical domain. With the help of four studies, we demonstrate the anchoring and adjustment bias in perceptual domains. Additionally, we outline a process of perceptual anchoring and provide a way for a potential resolution to the disagreement among different process accounts for the anchoring phenomenon.

By Gaurav Jain|2022-02-17T05:30:57+00:00March 9th, 2021|Categories: Behavioral Theory & Insights|Tags: anchoring, bias, decision making, judgment, perception|

Stop Chasing the Past: Improving Investment Decisions with Social Disclaimers

Mutual funds cannot consistently return better-than-average performance. Yet investors often pick their mutual funds based on past performance. Researchers Leonardo Weiss-Cohen, Philip Newall and Peter Ayton conducted a long-term Think Forward Initiative research project that sought to answer how their investment decisions could be improved.

By Think Forward Initiative|2022-02-17T06:03:32+00:00May 8th, 2020|Categories: Finance & Investing, Technology & Digital|Tags: anchoring, behavioral finance, chasing returns, communication, disclaimers, fees, financial decision making, incentives, investing, investment biases, mutual funds, nudge, personal finance, saving|