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 is a cognitive bias where our decision-making is influenced by the first piece of information we receive, which serves as an “anchor” for our subsequent judgments.

Although exposing and removing the anchor have some effect on minimizing damages, we know that in the absence of competing values for damages, jurors will still often use plaintiffs’ figures as ...

See Christopher T. Stein & Michelle Drouin, “Cognitive Bias in the Courtroom: Combating the Anchoring Effect Through Tactical Debiasing,” 52 U.S.F. L. Rev. 393 (2018). Proposing a Counter ...

As an investor, you absolutely must do what you can to avoid the effects of the anchoring bias. It's difficult to overcome, and many people fall for it even when they're trying not to, so don't ...

A term borrowed from behavioral economics, the anchoring effect describes our tendency to over-rely on a piece of information presented to us. For example, when a credit card statement suggests a ...

Anchoring constitutes a ubiquitous phenomenon that occurs in a variety of laboratory and real-world settings. Anchoring effects are remarkably robust. They may occur even if the anchor values are ...