Decision making · 4 minute read
Anchoring
The first number or idea we encounter can pull every later judgment toward it.
Try thisMake your own estimate before hearing someone else’s number.
In plain English
What is it?
Our minds use the first available reference point as a starting place—even when that starting place is arbitrary.
In the real world
What does it look like?
A high opening price can make the next price feel reasonable, even when it is still expensive.
Make it useful
How do you think more clearly?
Make your own estimate before hearing someone else’s number.