If so, you may have been the victim of anchoring bias. Anchoring is a cognitive bias in which we focus on an initial set point or number, and make our decisions based on that initial information ...

The Anchoring cognitive bias is our tendency to rely heavily on our first impressions (or ‘anchor’ information) when making a decision. Once the anchor has been set, other judgments are made ...

This cognitive bias, known as the anchoring effect, subtly yet powerfully shapes our judgments across various aspects of life. From financial investments and consumer purchases to legal judgments ...

Tversky and Kahneman believed that people adjust inadequately from the anchor. They proposed that cognitive effort is required to adjust mentally the anchor down (or up) to the correct estimate ...

Another pervasive cognitive bias in legal settings is anchoring. Anchoring occurs when the initial piece of evidence someone learns about a topic is much more impactful than subsequent evidence.

There are a lot of cognitive biases that can lead us astray as investors, including the anchoring bias. When we're trying to make our next financial move, an anchoring bias can make it very hard ...

What Are the Main Types of Cognitive Biases? The main types of cognitive bias are confirmation bias, anchoring, framing bias, confidence bias, and hindsight bias. How Does Cognitive Bias Affect ...

Cognitive biases, which are consistent deviations ... Maria’s research suggests the average salary for her role is $70,000, ...

Consider reaching out to a financial advisor. Anchoring bias is a cognitive bias that occurs when individuals make decisions based only on the initial information they encounter. In investing ...