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@article{193138,
        author = {Mr. Yash Baiju Naik and Mr. Darshan Maheshbhai Patel and Mr. Dhairya Rajesh Joshi},
        title = {The Conceptual and Umbrella Exploration of Anchoring, Behavioral Biases, and Pricing Dynamics in Digital and Contemporary Markets},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {9},
        pages = {3841-3844},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=193138},
        abstract = {Anchoring and related behavioral biases increasingly shape decision-making across digital platforms, negotiations, insurance, pricing, and financial markets. While individual empirical and conceptual studies have explored these phenomena in isolated contexts, there is a lack of integrative synthesis that consolidates findings across domains. This paper presents a combined conceptual and umbrella review of eleven recent studies (2025–2026) spanning artificial intelligence negotiations, consumer pricing, insurance, digital platforms, supply chains, IPO markets, and theoretical behavioral economics. Using an umbrella review approach, we aggregate results from experimental, analytical, and conceptual research, and develop a higher-order conceptual framework linking anchors, digital amplification mechanisms, market structures, and outcomes. The review reveals four convergent themes: (1) anchoring creates systematic asymmetries in both human and AI-mediated decisions; (2) digital environments intensify reference dependence and bounded rationality; (3) pricing and market-design mechanisms can either magnify or mitigate anchoring effects; and (4) most existing evidence relies on secondary or theoretical data with limited human-centered experimentation. Based on these findings, the paper proposes an integrative model of Anchored Decision Systems and offers methodological, managerial, and policy recommendations. Implications are discussed for platform design, negotiation automation, consumer protection, and future behavioral research.},
        keywords = {anchoring; behavioral economics; pricing; digital decision-making},
        month = {February},
        }