Our judgments and decisions are often influenced by the first piece of information we encounter, acting as an anchor for subsequent choices.
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As an engineer with an official degree in software engineering, I am primarily interested in science and technology. I enjoy reading literature of many genres, and I especially like those from human behavior, sociology, history, and, should I say, science
Similar ideas to Anchoring Effect: The Bias of Initial Information
Anchoring is a cognitive bias where an individual depends too heavily on an initial piece of information offered to make subsequent judgments during decision making.
Anchoring influences all kinds of purchases. Research found that people who move to a new city generall...
People give disproportionate weight to the first piece of information they encounter when making decisions. If you're negotiating the price of a used car, and the seller asks for a high price initially, you might end up paying more than you should because the high anchor influenced your perceptio...
The first number mentioned in a negotiation, however arbitrary, exerts a powerful influence on the negotiation that follows.
You can avoid being the next victim of the anchoring bias by making the first offer (or offers) and trying to anchor talks in your preferred direct...
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