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 perception of a fair price.
44
359 reads
CURATED FROM
IDEAS CURATED BY
Being an ambivert person, I am too much fond of reading, and always eager to learn.
These cognitive biases and mind traps influence decision-making, perception, and behavior in various aspects of our lives. Recognizing them can help us make more rational and informed choices.
“
Similar ideas to 3. Anchoring Bias:
The tendency to rely heavily on one piece of information (often the first thing you hear) when making decisions.
This is why it pays off to be the first one to offer a bolstering range instead of a firm number when negotiating your salary. The first offer will establish the possibilities i...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
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