Anchoring, Stress and Gender: An Examination of the Effects of Gender and Perceived Stress Level on the Use of Self Generated Anchors

Abstract

Several different explanations have been suggested as the mechanism behind the anchoring heuristic. The first to be proposed was anchoring and adjustment, although since its introduction it has largely fallen out of favour and has been replaced by theories of selective accessibility and attitude change. Despite this, evidence has recently emerged indicating a separate mechanism for self-generated anchors when compared to the classic paradigm of externally provided anchors. In their case it seems that the anchoring and adjustment explanation is applicable, and furthermore that the extent of adjustment could be manipulated in experiments by acutely inducing stress. This paper looked at whether this same pattern could be found due to everyday variations in perceived stress. In addition, as previous research has found women to have greater stress responses and different tendencies in decision making, it was investigated whether perceived stress may mediate a relationship between gender and adjustment, and whether gender has a direct effect on adjustment. Data was gathered via a survey which was distributed using snowball sampling (N = 184) and made using the online software Qualtrics. The PSS-10 was used to measure stress levels, and five estimation questions prompting the use of self-generated anchors were sourced from previous research and used to measure extent of adjustment. None of the proposed relationships between gender, stress, and adjustment were found in the data gathered. Further research is undoubtedly required to conclusively determine whether this was due to an actual absence of effect, or to methodological limitations in the present research.