The anchoring effect causes initial values to disproportionately influence judgments:
This powerful cognitive bias explains why car dealers show you the expensive model first, why minimum payment amounts on credit cards increase debt, and why starting salary significantly influences lifetime earnings regardless of performance.
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<p>Think you make rational decisions? Think again. This eye-opening book reveals how our minds are riddled with systematic thinking errors. Author Rolf Dobelli distills decades of cognitive research into 99 short chapters, each exposing a common mental mistake and how to avoid it. From why we overvalue things we already own to how experts consistently fail with predictions, these cognitive biases affect every aspect of life—investing, business, relationships, and everyday decisions. Once you recognize these thinking traps, you'll catch yourself falling for them and make dramatically better choices.</p>
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Similar ideas to Anchoring Effect
Anchoring shows how initial values disproportionately influence subsequent judgments. This effect:
Anchoring occurs when an initial reference value disproportionately influences subsequent judgments. This effect:
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...
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