ANCHORING
Anchoring
Anchoring or focalism is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered when making decisions. During decision making, anchoring occurs when individuals use an initial piece of information to make subsequent judgments. Once an anchor is set, other judgments are made by adjusting away from that anchor, and there is a bias toward interpreting other information around the anchor. For example, the initial price offered for a used car sets the standard for the rest of the negotiations, so that prices lower than the initial price seem more reasonable even if they are still higher ...The above text is a snippet from Wikipedia: Anchoring
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anchoring
Noun
- The tendency of people to place subsequently refined answers to a given question close to the initially estimated answer, giving unduly weight to the initial answer, such as adjusting the initial estimate of "20%" to "30%" when "90%" would be more appropriate.
Verb
anchoring
The above text is a snippet from Wiktionary: anchoring
and as such is available under the Creative Commons Attribution/Share-Alike License.