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That's a good question. My intuition is that it would decrease the variance as people would be drawn towards the anchor. But I could be wrong. We'd need empiric
by harryh 9y ago
That's a good question. My intuition is that it would decrease the variance as people would be drawn towards the anchor. But I could be wrong. We'd need empirical data to know. There is public data available on credit card purchases in NYC cabs. That will just give you the data for payments with the anchor though, not the cash payments made without it.
- dragonwriter 9y ago> My intuition is that it would decrease the variance as people would be drawn towards the anchor. If it's anchor vs. no norm, sure. But anchoring is trying to move a pre-existing social norm as to tipping rates, so its an additional competing standard to which some but not all people will be drawn from whatever their prior basis was, not a standard introduced where none existed before.
- harryh 9y agoYa, that makes sense. Could go either way. Def one of those "not gonna know without looking at the data" situations.