{"id":1397,"slug":"northcraft-neale-1987-real-estate-experts-anchoring","title":"Northcraft & Neale (1987) — anchoring replicates with REAL-ESTATE EXPERTS: agents' valuations track arbitrary listing prices, despite experts' confidence they don't","kind":"reference","scope":"business","status":"current","audiences":["kevin","smb-owner","candid-team"],"topics":["behavioral-economics","anchoring-effect"],"reference_body":"**Claim:** Northcraft & Neale (1987) replicated **anchoring with real-estate experts**: agents' property valuations tracked arbitrary listing prices, despite the experts' confidence that they did not.\n\n**Source:** Northcraft & Neale (1987).\n\n**Confidence:** Verified.\n\n**Why this matters for Candid:** **Experts are not immune to anchoring.** Strongest argument for taking the calculator-anchor risk seriously even when the buyer is sophisticated. Extends [[anchoring-effect-tversky-kahneman-1974]] from undergrads to professionals.","rationale_body":null,"metadata":null,"links":{"outgoing":[{"slug":"anchoring-effect-tversky-kahneman-1974","title":"Anchoring effect (Tversky & Kahneman, 1974) — the first number presented becomes a reference point that pulls all later judgments, even when arbitrary","kind":"reference","scope":"business","link_type":"depends-on"},{"slug":"rule-treat-public-numbers-as-anchors","title":"R7 — Treat every public number on a client site as an anchor; design accordingly","kind":"rule","scope":"business","link_type":"relates-to"}],"incoming":[{"slug":"research-brief-interactive-tool-mechanisms-smb-june-2026","title":"Research brief: why interactive tools deepen a business's relationship with its audience — a mechanism-level research package (June 2026)","kind":"reference","scope":"business","link_type":"relates-to"},{"slug":"rule-honest-anchor-tool-output-matches-sales-quote","title":"R8 — The tool's number IS the buyer's anchor; sales must be ready to MEET OR EXPLAIN it — bait-and-switch destroys the trust the mechanism case earns","kind":"rule","scope":"business","link_type":"depends-on"}]},"created_at":"2026-06-20T18:18:57.553Z","updated_at":"2026-06-20T18:18:57.553Z"}