Overcoming Anchoring Bias: The Potential of AI and XAI-based Decision Support

arXiv:2405.04972v1 Announce Type: cross
Abstract: Information systems (IS) are frequently designed to leverage the negative effect of anchoring bias to influence individuals' decision-making (e.g., by manipulating purchase decisions). Recent advances in Artificial Intelligence (AI) and the explanations of its decisions through explainable AI (XAI) have opened new opportunities for mitigating biased decisions. So far, the potential of these technological advances to overcome anchoring bias remains widely unclear. To this end, we conducted two online experiments with a total of N=390 …

abstract advances artificial artificial intelligence arxiv bias cs.ai cs.cy cs.hc cs.lg decision decisions decision support econ.gn explainable ai influence information intelligence making negative opportunities purchase q-fin.ec support systems through type xai