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
Wednesday, 4 January 2012
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