Putting Adjustment Back in the Anchoring and Adjustment Heuristic: Differential Processing of Self-Generated and Experimenter-Provided Anchors

People's estimates of uncertain quantities are commonly influenced by irrelevant values. These anchoring effects were originally explained as insufficient adjustment away from an initial anchor value. The existing literature provides little support for the postulated process of adjustment, however, and a consensus that none takes place seems to be emerging. We argue that this conclusion is premature, and we present evidence that insufficient...