Anchoring on Historical Round Number Reference Points: Evidence from Durable Goods Resale Prices

This paper benefited from feedback received at multiple conferences and from many colleagues, including at the authors’ home institutions. The authors thank all those who shared thoughts that improved this paper, and they particularly thank Andrew Knight, Alex Rees-Jones, and the Organization Science review team for their helpful comments. Real estate listing data were provided courtesy of the Wasatch Front Regional Multiple Listing Service (WFRMLS). WFRMLS has not reviewed or verified any of the numbers or statistics in this paper. Timothy Gubler and Scott S. Wiltermuth contributed equally to the manuscript.