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 function of the anchor on a ship is to keep the vessel from sailing away. But in the case of the ‘anchoring effect’, it keeps the mind from sailing towards different starting points for the ...

The psychological anchoring effect occurs when people rely too heavily on the first piece of information they receive when making decisions or estimates. That early piece of information becomes a ...