Consumer Psychology Anchoring Bias: Definition and ExamplesAnchoring bias is a cognitive bias where people rely too heavily on the first piece of information they receive—the “anchor”—when making decisions. Dr SARANYA JAIKUMAR Educational Psychologist Become my student - Link in bio | Dr Saranya Jaikumar videos
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Anchoring bias is a cognitive bias where individuals rely too heavily on the first piece of information they receive (the "anchor") when making subsequent judgments or decisions | Weneedtotalk
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What is Anchoring Bias? Easy Explanation with Example Understanding Anchoring Bias Anchoring bias is a cognitive tendency where people heavily rely on the initial piece of information they receive when making decisions. They use this initial information as a reference point and judge subsequent information in relation to it. Here's an Example: Imagine you're at a car dealership. The salesperson starts by showing you the most expensive cars on the lot. Initially, you might think these cars are ou
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