Learn more about moneyandinvestments with this collection
How to communicate effectively with difficult people
How to handle conflict
How to stay calm under pressure
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.
24
163 reads
MORE IDEAS ON THIS
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.
...
29
229 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...
24
215 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:
- Be aware of the anchor effect and recognize that our need for a bargain and even our moo...
25
158 reads
CURATED FROM
CURATED BY
"In fact, the confidence of the people is worth more than money." ~ Carter G. Woodson
Related collections
More like this
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:
- Be aware of the anchor effect and recognize that our need for a bargain and even our moo...
Not all light is the same
Some kinds of light make you more alert and more awake, and others have less of an effect:
- Sunlight is strong in blue, short-wavelength light, although it includes all other colors as well. That’s important in the morning when we need to be alert and awake.
- Your tablet, pho...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
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