Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Psychological Mechanism of Anchoring Effect from the Perspective of Attitude Change Theory and Metacognition

Authors
Xilin Zhang1, *
1Business & Economics Faculty, The University of Hongkong, Hongkong, China
*Corresponding author. Email: u35832115@connect.hku.hk
Corresponding Author
Xilin Zhang
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_126How to use a DOI?
Keywords
Anchoring effect; Attitude change theory; Metacognition
ABSTRACT

The integration of two explanatory mechanisms of insufficient adjustment and selective accessibility has become a research hotspot in recent years as a result of in-depth research on the psychological mechanism of the anchoring effect. Attitude change theory and metacognition model provide a new perspective for the study of the psychological mechanism of the anchoring effect. Researchers presented the division of high elaborative anchoring and low elaborative anchoring effect based on the Elaboration likelihood model (ELM) and explained the psychological processing process and linkage between them. The study of the extreme anchor, self-generated anchor, and external-provided anchor also deepens the explanatory connotation. This paper reviews the development of the anchoring compound mechanism and dual anchoring effect based on the perspective of ELM model and attitude change theory and proposed that future research should further explore anchoring processing and examine its effect in the light of the real social situations.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
978-94-6463-036-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_126How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xilin Zhang
PY  - 2022
DA  - 2022/12/31
TI  - Psychological Mechanism of Anchoring Effect from the Perspective of Attitude Change Theory and Metacognition
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 856
EP  - 861
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_126
DO  - 10.2991/978-94-6463-036-7_126
ID  - Zhang2022
ER  -