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Why do we tend to rely heavily upon the first piece of information we receive?
in Acalytica by Platinum (96.7k points) | 2 views

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Anchoring describes the tendency to rely on initial information to “anchor” subsequent judgements and interpretations.

 

The anchoring bias is especially pronounced in negotiations, where the first offer, the anchor, has a significant impact on the final agreement. For example, when bartering at a market, the initial price tagged on the item will influence your perception cheaper offers, even it is still much more what the item is really worth. As a result, you may end up buying that item thinking it was a huge bargain, when in reality, you anchored your perception around the initial higher price you saw.
by Platinum (96.7k points)

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