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Anchoring Bias

The anchoring bias occurs when people rely too heavily on the first piece of information they receive when making decisions.
#anchoring-bias
#cognitive-biases
#decision-making
#heuristics
#information-processing
Zettelkasten, November 20th, 2022.
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Notes

  • The anchoring bias occurs when people rely too heavily on the first piece of information they receive when making decisions, which can significantly impact people's decision-making.
  • This can lead them to make suboptimal decisions because they do not consider all relevant information.
  • The anchoring bias is often seen in negotiation situations, where the first offer can significantly impact the final outcome.
  • It can also be important to consider when making decisions about investments or financial products.
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