Analyzing the relation between anchoring and dark triad personality traits in the prisoner’s and traveler’s dilemmas

Abstract

Anchoring bias has been extensively studied in behavioral economics, but the influence of individual differences on this bias has rarely received attention. However, research suggests that personality traits may affect susceptibility to bias. The present study addresses how dark triad traits may affect decisions within the framework of behavioral game theory, how decisions are justified, whether anchors are generated, and how personality traits affect anchors. A total of 379 participants played the prisoner’s dilemma and traveler’s dilemma games. In both games, three groups were configured, two with anchors and one control group without anchors. The games were conducted through an online questionnaire in which participants also completed the short dark triad test. The Machiavellianism and psychopathy traits yielded relationships with the decisions made in the games but did not affect the anchors. In the traveler’s dilemma, there was a clear anchoring, and in the prisoner’s dilemma, there was no anchoring. In addition, the players rationalized the decisions made against anchoring.