Anchoring & Adjustment: Malouff & Schutte had groups read a personal injury case. When the defence lawyer requested $100k the “jurors” awarded $90,333. A group with a £700k demand awarded $421,538. The original prices acted as anchors from which the groups adjusted down.

Ultimatum Game: Imagine you’re given £10 & asked to offer a 2nd person a split. If they accept, you both get your share. If not, neither do. Research by Werner Güth found most recipients reject offers of £2 or less. We’re willing to forgo gains if we think they’re unfair.