Editing Anchoring effect (section)

===Culture===

Culture has been identified as an influencing factor in susceptibility to the anchoring effect. A study comparing students from Poland and India found that while both groups were affected by anchoring, the degree of susceptibility varied significantly by cultural background. Polish students demonstrated lower susceptibility to anchoring compared to Indian students.<ref>{{Cite journal |last=Czerwonka |first=Monika |date=2017-09-01 |title=Anchoring and Overconfidence: The Influence of Culture and Cognitive Abilities |url=https://doi.org/10.1515/ijme-2017-0018 |journal=International Journal of Management and Economics |volume=53 |issue=3 |pages=48–66 |doi=10.1515/ijme-2017-0018 |issn=2299-9701}}</ref> Researchers proposed that individuals from cultures characterized by holistic thinking styles—more common in East and South Asian societies—are more prone to contextual influences and thus more susceptible to anchoring.<ref>{{Cite journal |last1=Choi |first1=Incheol |last2=Koo |first2=Minkyung |last3=Jong An Choi |date=May 2007 |title=Individual Differences in Analytic Versus Holistic Thinking |url=https://doi.org/10.1177/0146167206298568 |journal=Personality and Social Psychology Bulletin |volume=33 |issue=5 |pages=691–705 |doi=10.1177/0146167206298568 |pmid=17440200 |issn=0146-1672|url-access=subscription }}</ref><ref>{{Cite journal |last1=Nisbett |first1=Richard E. |last2=Peng |first2=Kaiping |last3=Choi |first3=Incheol |last4=Norenzayan |first4=Ara |date=2001 |title=Culture and systems of thought: Holistic versus analytic cognition. |url=https://doi.org/10.1037//0033-295x.108.2.291 |journal=Psychological Review |volume=108 |issue=2 |pages=291–310 |doi= 10.1037/0033-295x.108.2.291|pmid=11381831 |issn=0033-295X|url-access=subscription }} {{doi|10.1037//0033-295x.108.2.291}}</ref> Additionally, cultural differences in overconfidence were observed, with Indian students displaying a higher rate of overprecision compared to Polish students. This is explained by the differences in cultural difference in tolerances for ambiguity and risk (uncertainty avoidance), with Poland scoring high and India scoring medium to low on [[Hofstede's cultural dimensions theory#:~:text=Hofstede's cultural dimensions theory is,structure derived from factor analysis.|Hofstede’s Uncertainty Avoidance Index (UAI)]].<ref>{{Cite book |last=Kuźmińska-Haberla |first=Aleksandra |chapter=Poland and India in the Light of Hofstede's Cultural Dimensions |series=Eurasian Studies in Business and Economics |date=2018 |title=Eurasian Economic Perspectives |chapter-url=https://ideas.repec.org/h/spr/eurchp/978-3-319-67916-7_17.html |volume=8/2 |language=en |pages=267–283|doi=10.1007/978-3-319-67916-7_17 |isbn=978-3-319-67915-0 }}</ref>