Northcraft & Neale (1987) — anchoring replicates with REAL-ESTATE EXPERTS: agents' valuations track arbitrary listing prices, despite experts' confidence they don't
Created 2026-06-20
Summary
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.
Source: Northcraft & Neale (1987).
Confidence: Verified.
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) — the first number presented becomes a reference point that pulls all later judgments, even when arbitrary from undergrads to professionals.
Related entries
Referenced by (2)
- reference Research brief: why interactive tools deepen a business's relationship with its audience — a mechanism-level research package (June 2026) relates-to
- rule 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 depends-on