Previous studies on anchoring have shown that the anchoring effect is one of the most robust cognitive heuristics. This paper examines whether this effect also exists in the valuation of Chinese writing tasks and whether the willingness to pay values in two different anchor conditions converge when the information of all subjects’ previous prices is published. We find that the actual willingness to accept values could be manipulated by an arbitrary anchor. Furthermore, we also demonstrate that the convergence of the willingness to accept values between two different anchor conditions temporarily exists.
