We study anchoring in an experiment with non-standard participants and find evidence that the influence of the anchor value differs by individual characteristics. Participants with lower levels of education and less labor market experience show a significantly larger anchoring bias in their wage demands for a work task. Gender differences in anchoring are due to gender-specific education and employment patterns -contributing a further channel to a persistent gender pay gap.
We study anchoring in an experiment with non-standard participants and find evidence that the influence of the anchor value differs by individual characteristics. Participants with lower levels of education and less labor market experience show a significantly larger anchoring bias in their wage demands for a work task. Gender differences in anchoring are due to gender-specific education and employment patterns -contributing a further channel to a persistent gender pay gap.