The science behind our bargain hunting foolishness - Deepstash
Handling Difficult People

Learn more about moneyandinvestments with this collection

How to communicate effectively with difficult people

How to handle conflict

How to stay calm under pressure

Handling Difficult People

Discover 71 similar ideas in

It takes just

8 mins to read

Cognitive Biases: Anchoring And Our Relationships With Buying Stuff

Cognitive Biases: Anchoring And Our Relationships With Buying Stuff

When we walk into a store and see an Ultra HD Television costing upwards of $40,000, we usually feel as if it’s a complete waste of money and start to look at the other bargain options in the $1500 range. While we may think we are smart shoppers, we have been manipulated.

Anchoring is a cognitive bias where the initial figure that is provided to our minds distorts our thinking and influences our subsequent buying decision. The $1500 TV wouldn’t look so enticing and cheap if we didn’t see the expensive one before. In fact, if the first TV we saw was for $500, then the $1500 TV would look expensive.


228 reads

The Anchoring Effect Really Works

Many psychological findings are hard to replicate, but anchoring is easy to demonstrate and repeat.

Court judgements are routinely influenced by anchors, where initial numbers play a subconscious role in the judge’s mind. Salary negotiations are affected by the starting position, so it is always important to make the initial offer.


213 reads

The Anchoring Effect Is Used By All

Everyone is using the anchoring effect. Even when we try to sell a car, we initially put a price much higher than what we plan to get from it.

The most common example is when during online and offline sales, we see that the earlier, inflated price has a big red cross over it, and the new, seemingly cheaper price is highlighted just next to that.


163 reads

No One Is Immune To The Anchor Effect

Anchoring is an extremely strong bias, and even if we are aware of it, it still works. We can follow certain rules to avoid this highly prevalent and effective cognitive bias as much as possible:

  1. Be aware of the anchor effect and recognize that our need for a bargain and even our mood can make us fall for it.
  2. Have as much information you can get about the product and the possible price range before making a large purchase.
  3. Have preset limits on spending, so that you don’t go above it.


158 reads



"In fact, the confidence of the people is worth more than money." ~ Carter G. Woodson


Explore the World’s

Best Ideas

200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.

An Idea for Everything

Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.

Knowledge Library

Powerful Saving & Organizational Tools

Save ideas for later reading, for personalized stashes, or for remembering it later.

# Personal Growth

Take Your Ideas


Organize your ideas & listen on the go. And with Pro, there are no limits.

Listen on the go

Just press play and we take care of the words.

Never worry about spotty connections

No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.

Get Organized with Stashes

Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.


2 Million Stashers


5,740 Reviews

App Store


72,690 Reviews

Google Play


Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.

Shankul Varada

Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.

Ashley Anthony

This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!

Sean Green

Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.

Ghazala Begum

Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.

Giovanna Scalzone

Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.

Laetitia Berton

I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!

Jamyson Haug

Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.

Read & Learn

20x Faster





Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving & library

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Personalized recommendations

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.


I agree to receive email updates