Anchoring effects in the Chinese art market

Bian, Timothy Yang; Huang, Jun; Zhe, Siqi; Man, Zhang

doi:10.1016/j.frl.2021.102050

Cited by 4 publications

(4 citation statements)

References 8 publications

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“…Our findings contribute to the existing empirical evidence that investors might anchor on previous high or low prices or 52-week high or low prices when making investment decisions (Hao et al 2016;E. Lee and Piqueira 2019;Bian et al 2021).…”

Section: Discussionsupporting

confidence: 59%

Moored Minds: An Experimental Insight into the Impact of the Anchoring and Disposition Effect on Portfolio Performance

Arora

Rajendran

2023

JRFM

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This study investigates the anchoring bias and disposition effect in investor trading decisions under different market volatility conditions (stable and volatile markets) and examines their impact on portfolio performance. Employing a quasi-experimental design, participants engage in interactive trading with four securities—two with potential negative returns and two with positive returns—within a simulated asset market. The findings reveal the presence of both the disposition effect and the anchoring bias among individual investors in India. Notably, market volatility influences these behavioral biases, with the disposition effect more pronounced in volatile markets, while the anchoring bias is significant in stable markets. Furthermore, investors exhibiting the disposition effect tend to have lower portfolio performance, while those influenced by the anchoring bias achieve relatively better results. These insights can aid individual investors in recognizing their behavioral biases and making informed trading decisions to enhance portfolio performance. Additionally, this study presents valuable suggestions to financial institutions and regulatory government agencies engaged in similar experiments, with the goal of improving financial decision-making and investment behavior.

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Section: Discussionsupporting

confidence: 59%

Moored Minds: An Experimental Insight into the Impact of the Anchoring and Disposition Effect on Portfolio Performance

Arora

Rajendran

2023

JRFM

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“…On the topic of anchoring effects, scholars have explored the possible mechanisms of basic anchoring and the relationship between these mechanisms and other judgment and correction processes, discussed the positive and negative effects of anchoring phenomena on human psychology and behavior, and the relationship between the setting effect and other psychological phenomena [3,4]. Some scholars have studied the anchoring effect of different markets, such as the Chinese art market [5]. This paper will take Luckin Coffee and Cotti Coffee as cases to study the reasons for the anchoring effect and how the anchoring effect affects consumers' consumption decisions.…”

Section: Introductionmentioning

confidence: 99%

Applying Anchoring Effect in Catering Industry A Case Study of Cotti Coffee vs. Luckin Coffee

Zhang

2023

AEMPS

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Behavioral economics is one of the hot topics in current research. Some researchers have found that the anchoring effect in behavioral economics theory generally appears in various markets in people's lives. This paper focuses on the anchoring effect in the catering industry, taking Luckin Coffee and Cotti Coffee as case studies on why and how anchoring has an effect on consumers' consumption decisions. This study conducted a questionnaire among Chinese high school students to show the existence of anchoring effect and explain how individuals make consumption decisions. Finally, this paper discusses the reasons why people are not affected by the anchoring effect, and gives corresponding suggestions from the perspectives of merchants and consumers, that is, how merchants can strengthen the anchoring effect on consumers to increase sales and how consumers can avoid falling into the consumption trap created by the anchoring effect.

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“…The related research has also drawn wide attention, so we conducted a research related to dance movements in the relevant database, and the search results are shown in Figure 1 , which indicates that the main research work on dance movements in computer artificial intelligence accounts for the largest proportion, 52.07%, and the amount of music and dance research, which is ranked second, is 23.97%, followed by automation-related dance research, accounting for of 12.4%, which indicates that research on artificial intelligence for dance movement recognition is extremely important. Bian [ 2 ] et al proposed to validate the generated model by comparing artificial intelligence (AI) output with dance teachers' assessments, where they first elicited from teachers the dance elements they typically focus on for rhythmic assessment (i.e., tempo, pause, step length, and weight transfer). Then, selected features are extracted from raw motion sensor data related to the rhythmic patterns of the learner's dance, their synchronization with the music beat, and specific features of the song being played.…”

Section: Introductionmentioning

confidence: 99%

“…As a special product of human civilization, art has a very important role in promoting the development of the whole society and the prosperity of the country. Among them, dance is a very ancient and unique charming art product, which has its own very important relevance and mechanism as one of the carriers of traditional Chinese culture [1][2][3]. e revitalization of dance can promote the excellent traditional culture and enhance the soft power of the country culturally.…”

Section: Introductionmentioning

confidence: 99%

Research on Multimodal Dance Movement Recognition Based on Artificial Intelligence Image Technology

Zeng

2022

Computational Intelligence and Neuroscience

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At present, most robot dances are precompiled. Changing music requires manual adjustment of relevant parameters and metamovements, which greatly reduces the fun and intelligence. In view of the above problems, this paper designed CNN system, studied the multimodal dance movement recognition algorithm of artificial intelligence image technology, and completed the construction of a multimodal dance movement calculation system example. The results show that the CNN algorithm and the Winograd algorithm-based coprocessor-optimized CNN network in multimodal dance movement recognition with image technology reduce from a maximum of 132s to 26s in the runtime criterion, with a maximum reduction of 80%; from a maximum of 73.5% to 16.2% in the memory access criterion, with a maximum reduction of 57.3%; and from a maximum of 93.6% to 25.2% in the power consumption ratio criterion, with a maximum reduction of 68.4%. In the power consumption ratio criterion, the maximum reduction from 93.6% to 25.2% is 68.4%. The maximum accuracy of the proposed optimization method is 95.1%. The solution is proposed to address the problem of insufficient performance of traditional dance movement recognition, which will contribute to the development of artificial intelligence and dance industry.

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Anchoring effects in the Chinese art market

Cited by 4 publications

References 8 publications

Moored Minds: An Experimental Insight into the Impact of the Anchoring and Disposition Effect on Portfolio Performance

Moored Minds: An Experimental Insight into the Impact of the Anchoring and Disposition Effect on Portfolio Performance

Applying Anchoring Effect in Catering Industry A Case Study of Cotti Coffee vs. Luckin Coffee

Research on Multimodal Dance Movement Recognition Based on Artificial Intelligence Image Technology

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