The reason why people tend to say “Make the first offer” is the anchoring effect that occurs at the ... Word of wisdom: Knowledge is the best antidote to anchoring! If you know that your ...

If you’ve studied sales or pricing–or cognitive biases–then you’re probably aware of a bias known as “the anchoring effect.” One of the best definitions we’ve seen comes from ...

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 ...

The anchoring effect represents one determinant which can have a negative effect on decision making. Business leaders must be aware of it when making decisions so it does not cloud their judgment.

The anchoring effect causes individuals to cling to a belief ... And then, advisors need to figure out what are the best products suited to their clients' risk profile and ensure they're properly ...