Volume 29, Issue 2
DOI: 10.24205/03276716.2020.268
GENERATION MECHANISM OF ANCHORING EFFECT IN ECONOMIC MANAGEMENT JUDGMENT: AN ANALYSIS BASED ON EVENT RELATED POTENTIAL
Abstract
During economic management, correct judgement is the basis for high-quality decision-making. However, the decision-maker may be thronged by irrelevant information under the anchoring effect, leading to irrational judgement and decision. This paper aims to determine the generation mechanism of anchoring effect in economic management judgment. First, the basic theories on economic management judgment and anchoring effect were analyzed based on decision-making neuroscience and literature review. Then, the event-related potential (ERP) was adopted to conduct noise assessment experiments. Based on the experimental results, the cognitive mechanism of anchoring effect in economic management judgment was analyzed from the aspects of behavioral and neural activity under common value judgment situations in economic management. The results show that, in economic management judgement, the anchoring effect is essentially the process of semantic priming and cognition of related brain regions, and decision makers are easily influenced by anchor information. The research results provide an important theoretical basis for reducing anchoring effect and making correct decisions in the judgment process.
Keywords
Economic Management Judgment, Anchoring Effect, Decision-Making Neuroscience, Event Related Potential (ERP).