Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Toby Walters is a financial writer ...

In this section we discuss how landmarks are represented and how they are used to anchor the cognitive map. A second requirement for a cognitive map to be useful is that it must include a ...

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 ...

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 ...

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.

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 ...

Unfortunately though, we aren’t always successful. Indeed, more often than not do cognitive biases furtively skew our responses. Anchoring can represent just such a bias: It refers to the ...

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 ...

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 ...