Anchoring and charitable donations #1

Anchoring Bias and Charitable Giving
Intervention Charitable Giving

Monetary anchors to charity

Intervention Desrciption

The authors of this experiment tested the effect of a monetary anchor on the level of charitable donations. Of the 20% of people who gave money, some were told of a $20 anchor and some were not. It was found that those told of the $20 anchor donated significantly more than the control group. Additionally encouraging phrases, such as “even a penny will help”, increased the compliance rate.