THE anchoring effect is a cognitive bias where our decision-making is influenced by the first piece of information we receive, which serves as an “anchor” for our subsequent judgments. Even if the ...

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 ...