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

Understand

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 participants in the context of purchase decisions to examine the impact of AI and XAI-based decision support on anchoring bias.