Discover the anchoring effect: a cognitive bias where initial information unduly influences decision-making and perceptions ...

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, ...

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 ...

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 ...

In a previous post, I invited scholars to nominate what they think is the best-replicated finding in social psychology. Lukas Röseler, of the University of Bamberg, wrote me to make a case for ...