The Effect of Anchoring on Dishonest Behavior


This study conducts experiments on dishonest behavior after anchoring the participants' expected reward to investigate the effect of anchoring on dishonest behavior. The experimental results show that those who are anchored to high reward behave less honestly than those anchored to low reward. This is because the anchoring changes participants' expected reward. Such a change in expected reward serve as participants' reference point to affect the likelihood of facing a loss frame where dishonest behaviors are more likely to occur.


Anchoring effect, Reference point, Dishonest behavior, Expected reward, Cheating, Risk attitude

JEL Classification

D40, D91, G41


Faculty of International Studies, Hiroshima City University

Junyi SHEN
Research Institute for Economics and Business Administration,
Kobe University
Rokkodai-cho, Nada-ku, Kobe
657-8501 Japan
Phone: +81-78-803-7036
FAX: +81-78-803-7059
School of Economics, Shanghai University, China