Imagine making a crucial decision only to realize later that your choice was heavily influenced by the first piece of information you encountered. This cognitive bias, known as the anchoring effect, ...

The anchoring effect, a psychological bias, demonstrates how the first piece of information encountered significantly ...

A powerful psychological bias called anchoring influences our decisions. It means the first number we see often becomes a ...

What is the average price of a textbook in the nearest college campus bookstore? Before you answer, is it greater or less than $7,128.53? Most people quickly agree that the average price of a textbook ...

In negotiation, the first number often carries disproportionate weight. While perhaps not always an absolute guarantee of victory, the concept of “anchoring bias” suggests it’s a powerful and ...

Most of those who work in civil litigation are now familiar with the “anchoring effect,” and know that suggesting a number has an influence when it comes to damages. But attorneys may not know just ...

Have you ever been cut off in traffic by another driver, leaving you still seething miles later? Or been interrupted by a colleague in a meeting, and found yourself replaying the event in your head ...