{"id":"https://openalex.org/W4285490602","doi":"https://doi.org/10.1080/15427560.2022.2100377","title":"An Experimental Study of the Effect of the Anchor of the Option's Underlying Asset on Investors\u2019 Pricing Decisions","display_name":"An Experimental Study of the Effect of the Anchor of the Option's Underlying Asset on Investors\u2019 Pricing Decisions","publication_year":2022,"publication_date":"2022-07-15","ids":{"openalex":"https://openalex.org/W4285490602","doi":"https://doi.org/10.1080/15427560.2022.2100377"},"language":"en","primary_location":{"id":"doi:10.1080/15427560.2022.2100377","doi":"https://doi.org/10.1080/15427560.2022.2100377","is_oa":false,"landing_page_url":"https://doi.org/10.1080/15427560.2022.2100377","pdf_url":null,"source":{"id":"https://openalex.org/S94083415","display_name":"Journal of Behavioral Finance","issn_l":"1520-8834","issn":["1520-8834","1532-7760","1542-7560","1542-7579"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319847","host_organization_name":"Routledge","host_organization_lineage":["https://openalex.org/P4310319847","https://openalex.org/P4310320547"],"host_organization_lineage_names":["Routledge","Taylor & Francis"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Behavioral Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086628510","display_name":"Naveh Eskinazi","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I124227911","display_name":"Ben-Gurion University of the Negev","ror":"https://ror.org/05tkyf982","country_code":"IL","type":"education","lineage":["https://openalex.org/I124227911"]}],"countries":["IL"],"is_corresponding":false,"raw_author_name":"Naveh Eskinazi","raw_affiliation_strings":["Ben-Gurion University of the Negev"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Ben-Gurion University of the Negev","institution_ids":["https://openalex.org/I124227911"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5026608115","display_name":"Miki Malul","orcid":"https://orcid.org/0000-0001-9985-8303","observed_orcids":["https://orcid.org/0000-0001-9985-8303"]},"institutions":[{"id":"https://openalex.org/I124227911","display_name":"Ben-Gurion University of the Negev","ror":"https://ror.org/05tkyf982","country_code":"IL","type":"education","lineage":["https://openalex.org/I124227911"]}],"countries":["IL"],"is_corresponding":false,"raw_author_name":"Miki Malul","raw_affiliation_strings":["Ben-Gurion University of the Negev"],"raw_orcid":"https://orcid.org/0000-0001-9985-8303","affiliations":[{"raw_affiliation_string":"Ben-Gurion University of the Negev","institution_ids":["https://openalex.org/I124227911"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5087471710","display_name":"Mosi Rosenboim","orcid":"https://orcid.org/0000-0001-9494-7606","observed_orcids":["https://orcid.org/0000-0001-9494-7606"]},"institutions":[{"id":"https://openalex.org/I124227911","display_name":"Ben-Gurion University of the Negev","ror":"https://ror.org/05tkyf982","country_code":"IL","type":"education","lineage":["https://openalex.org/I124227911"]}],"countries":["IL"],"is_corresponding":false,"raw_author_name":"Mosi Rosenboim","raw_affiliation_strings":["Ben-Gurion University of the Negev"],"raw_orcid":"https://orcid.org/0000-0001-9494-7606","affiliations":[{"raw_affiliation_string":"Ben-Gurion University of the Negev","institution_ids":["https://openalex.org/I124227911"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5025250194","display_name":"Tal Shavit","orcid":"https://orcid.org/0000-0003-2966-302X","observed_orcids":["https://orcid.org/0000-0003-2966-302X"]},"institutions":[{"id":"https://openalex.org/I52170813","display_name":"Ariel University","ror":"https://ror.org/03nz8qe97","country_code":"IL","type":"education","lineage":["https://openalex.org/I52170813"]}],"countries":["IL"],"is_corresponding":true,"raw_author_name":"Tal Shavit","raw_affiliation_strings":["Ariel University"],"raw_orcid":"https://orcid.org/0000-0003-2966-302X","affiliations":[{"raw_affiliation_string":"Ariel University","institution_ids":["https://openalex.org/I52170813"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5025250194"],"corresponding_institution_ids":["https://openalex.org/I52170813"],"apc_list":null,"apc_paid":null,"fwci":0.8425,"has_fulltext":false,"cited_by_count":7,"citation_normalized_percentile":{"value":0.69197708,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":90,"max":97},"biblio":{"volume":"25","issue":"2","first_page":"167","last_page":"180"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.002400000113993883,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/anchoring-effect","display_name":"anchoring effect","score":0.7580000162124634},{"id":"https://openalex.org/keywords/option-pricing","display_name":"option pricing","score":0.8939999938011169},{"id":"https://openalex.org/keywords/underlying-assets","display_name":"underlying assets","score":0.4830000102519989},{"id":"https://openalex.org/keywords/investor-decision-making","display_name":"investor decision-making","score":0.5070000290870667},{"id":"https://openalex.org/keywords/framing-effects","display_name":"framing effects","score":0.5699999928474426},{"id":"https://openalex.org/keywords/behavioral-biases","display_name":"behavioral biases","score":0.4620000123977661}],"concepts":[{"id":"https://openalex.org/C2777340749","wikidata":"https://www.wikidata.org/wiki/Q6684955","display_name":"Lottery","level":2,"score":0.8099128007888794},{"id":"https://openalex.org/C194483076","wikidata":"https://www.wikidata.org/wiki/Q380382","display_name":"Valuation of options","level":2,"score":0.5438441038131714},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.5424256324768066},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.5225365161895752},{"id":"https://openalex.org/C167626555","wikidata":"https://www.wikidata.org/wiki/Q5164759","display_name":"Consumption-based capital asset pricing model","level":3,"score":0.5079997181892395},{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.5044296979904175},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4693143367767334},{"id":"https://openalex.org/C148220186","wikidata":"https://www.wikidata.org/wiki/Q7111912","display_name":"Outcome (game theory)","level":2,"score":0.4224802255630493},{"id":"https://openalex.org/C111771559","wikidata":"https://www.wikidata.org/wiki/Q66295","display_name":"Derivative (finance)","level":2,"score":0.4112870693206787},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.38084620237350464},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.36773401498794556},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3508409261703491},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.17676123976707458},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/15427560.2022.2100377","doi":"https://doi.org/10.1080/15427560.2022.2100377","is_oa":false,"landing_page_url":"https://doi.org/10.1080/15427560.2022.2100377","pdf_url":null,"source":{"id":"https://openalex.org/S94083415","display_name":"Journal of Behavioral Finance","issn_l":"1520-8834","issn":["1520-8834","1532-7760","1542-7560","1542-7579"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319847","host_organization_name":"Routledge","host_organization_lineage":["https://openalex.org/P4310319847","https://openalex.org/P4310320547"],"host_organization_lineage_names":["Routledge","Taylor & Francis"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Behavioral Finance","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:hbhfxx:v:25:y:2024:i:2:p:167-180","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1080/15427560.2022.2100377","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":57,"referenced_works":["https://openalex.org/W1486121388","https://openalex.org/W1530710064","https://openalex.org/W1540250721","https://openalex.org/W1564783490","https://openalex.org/W1571438983","https://openalex.org/W1576337383","https://openalex.org/W1965621962","https://openalex.org/W1965740984","https://openalex.org/W1971261945","https://openalex.org/W1978471140","https://openalex.org/W1982039177","https://openalex.org/W1984022436","https://openalex.org/W2010841372","https://openalex.org/W2016710995","https://openalex.org/W2020076795","https://openalex.org/W2028280385","https://openalex.org/W2033793002","https://openalex.org/W2042651776","https://openalex.org/W2056822017","https://openalex.org/W2064978316","https://openalex.org/W2077791698","https://openalex.org/W2085583620","https://openalex.org/W2085773866","https://openalex.org/W2086840260","https://openalex.org/W2092827311","https://openalex.org/W2093206632","https://openalex.org/W2107031757","https://openalex.org/W2110283920","https://openalex.org/W2116272813","https://openalex.org/W2119784040","https://openalex.org/W2127957034","https://openalex.org/W2146334187","https://openalex.org/W2146612430","https://openalex.org/W2149237919","https://openalex.org/W2149774959","https://openalex.org/W2151072827","https://openalex.org/W2151705360","https://openalex.org/W2163642917","https://openalex.org/W2170815702","https://openalex.org/W2202544003","https://openalex.org/W2292269537","https://openalex.org/W2296288283","https://openalex.org/W2296465845","https://openalex.org/W2330057793","https://openalex.org/W2997960800","https://openalex.org/W3011865677","https://openalex.org/W3022620817","https://openalex.org/W3122690887","https://openalex.org/W3122705521","https://openalex.org/W3125353710","https://openalex.org/W3125689268","https://openalex.org/W4206085253","https://openalex.org/W4231546411","https://openalex.org/W4244837625","https://openalex.org/W4251252946","https://openalex.org/W4252943231","https://openalex.org/W6634201796"],"related_works":["https://openalex.org/W2585969095","https://openalex.org/W3201016179","https://openalex.org/W3121970927","https://openalex.org/W3123591222","https://openalex.org/W3150412951","https://openalex.org/W2618215409","https://openalex.org/W3121642640","https://openalex.org/W4386639116","https://openalex.org/W4390729532","https://openalex.org/W1954200936"],"abstract_inverted_index":{"The":[0,83],"current":[1],"study":[2,126],"tests":[3],"experimentally":[4],"whether":[5,129],"decision":[6],"makers'":[7],"options":[8],"pricing":[9,52,105],"is":[10,23,106,123],"biased":[11],"by":[12,47,109],"the":[13,16,65,87,99,103,117,124,130],"magnitude":[14,90],"of":[15,49,119],"option's":[17,104],"underlying":[18,73,88,131],"asset":[19,50,132],"outcomes":[20,68],"in":[21],"what":[22],"called":[24],"an":[25,72,95,134,138],"anchor":[26,96,135],"effect.":[27],"We":[28],"recruited":[29],"1,023":[30],"participants":[31],"through":[32],"Amazon\u2019s":[33],"Mechanical":[34],"Turk":[35],"platform":[36],"(MTurk)":[37],"and":[38,51],"assigned":[39],"them":[40],"randomly":[41],"to":[42,60],"eight":[43],"groups":[44],"that":[45,86,97,127,136],"differed":[46],"type":[48],"position":[53],"(buy":[54],"or":[55,79,92],"sell).":[56],"Participants":[57],"were":[58],"asked":[59],"price":[61],"a":[62,76,113],"lottery,":[63],"meaning,":[64],"option,":[66],"whose":[67],"are":[69],"derived":[70],"from":[71],"lottery":[74],"with":[75],"high,":[77],"low":[78],"non-numerical":[80],"possible":[81],"outcome.":[82],"results":[84],"indicate":[85],"asset's":[89],"(low":[91],"high)":[93],"creates":[94,133],"affects":[98,137],"option\u2019s":[100,139],"pricing.":[101,140],"However,":[102],"not":[107],"affected":[108],"framing":[110],"it":[111],"as":[112],"derivative":[114],"lottery.":[115],"To":[116],"best":[118],"our":[120],"knowledge,":[121],"this":[122],"first":[125],"examines":[128]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":2}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2022-07-15T00:00:00"}