Analyzing anchoring bias in attribute weight elicitation of SMART, Swing, and best-worst method

In this study, the existence of anchoring bias—people's tendency to rely on, evaluate, and decide based on the first piece of information they receive—is examined in two multi-attribute decision-making (MADM) methods, simple multi-attribute rating technique (SMART), and Swing. Data were collected from university students for a transportation...

Anchoring bias in eliciting attribute weights and values in multi-attribute decision-making

The aim of this study is to look at anchoring bias–one of the main cognitive biases–in two multi-attribute decision-making methods, SMART and Swing. First, the existence of anchoring bias in these two methods for eliciting attribute weights and attribute values is theorised. Then, a special experiment is designed to compare the results...