Imagine making a crucial decision only to realize later that your choice was heavily influenced by the first piece of information you encountered. This cognitive bias, known as the anchoring effect, ...

Anchoring effects refer to a systematic bias in human cognition whereby initial information or reference points unduly influence subsequent judgements and decisions. This phenomenon has been ...

Literature shows that the presence of anchoring effect invalidates contingent valuation results. However, studies from developing countries have not addressed this phenomenon adequately. In this paper ...