Wednesday 4 January 2012

Anchoring Bias

If you have an initial piece of information (an anchor) in your head, this affects your later decisions. This is true even if the anchor is irrelevant - e.g. think of your phone number and then answer when the hun sacked Europe.

Info:
http://nudges.wordpress.com/tips-for-home-sellers-how-to-price-a-house/
http://www.slideshare.net/rnja8c/anchoring-and-adjustment-in-behavioral-economics

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