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Marie-Lena Frech currently works at the Institute of Management and Organizations at Leuphana University Lüneburg. Marie-Lena does research in Applied Psychology, Experimental Psychology and Quantitative Psychology.
Overweight individuals often struggle to lose weight. While previous studies established goal setting as an effective strategy for weight loss, little is known about the effects of numeric goal precision. The present research investigated whether and how the precision of weight loss goals—the number of trailing zeros—impacts a goal’s effectiveness....
Increasing price precision leads to linearly stronger anchoring effects for amateurs, but highly precise anchors can backfire for experts. Previous research focused on experts bargaining about an object within their expertise domain (e.g., real-estate agents negotiated about a house listed at €978,781.63). This leaves unknown whether too much preci...