Anchoring and adjustment
Anchoring or focalism is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the "anchor") when making decisions. During decision making, anchoring occurs when individuals use an initial piece of information to make subsequent judgments. Once an anchor is set, other judgments are made by adjusting away from that anchor, and there is a bias toward interpreting other information around the anchor. For example, the initial price offered for a used car sets the standard for the rest of the negotiations, so that prices lower than the initial price seem more reasonable even if they are still higher than what the car is really worth.

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Anchoring-and-Adjustment Heuristic…
Heuristics are mental shortcuts that are used to simplify otherwise difficult problems or tasks (Epley, 2004). They provide quick estimates, though sometimes ...
www.psychwiki.com/wiki/Anchoring-and-Adjustment_Heuristic
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Anchoring and Adjustment - Less Wrong
Less Wrong is a community blog devoted to refining the art of human rationality. Please visit our About page for more information.
lesswrong.com/lw/j7/anchoring_and_adjustment/
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Anchoring - Wikipedia, the free encyclopedia
[edit]. In their original study, Tversky and Kahneman put forth a view later termed anchoring-and-adjusting. According to ...
en.wikipedia.org/wiki/Anchoring
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(2006). The anchoring and adjustment heuristic - Cornell University ...
Research Article. The Anchoring-and-Adjustment. Heuristic. Why the Adjustments Are Insufficient. Nicholas Epley1 and Thomas Gilovich2. 1University of ...
psych.cornell.edu/sites/default/files/Epley%26Gilo.06.pdf
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The anchoring-and-adjustment heuristic: why the adjustments are ...
Psychol Sci. 2006 Apr;17(4):311-8. The anchoring-and-adjustment heuristic: why the adjustments are insufficient. Epley N, Gilovich T. University of Chicago, IL ...
www.ncbi.nlm.nih.gov/pubmed/16623688
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Anchoring and Adjustment Heuristic - Changing minds and persuasion
We tend to base estimates and decisions on known 'anchors' or familiar positions , with an adjustment relative to this start point.
changingminds.org/explanations/theories/anchoring_adjustment.htm
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Anchoring (and Adjustment) - Heuristics
Home > Heuristics. Anchoring (and Adjustment). 'In many situations, people make estimates by starting from an initial value that is adjusted to yield the final ...
heuristics.behaviouralfinance.net/anchoring/
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Sticky Decisions – Anchoring and Adjusting | Invisible Laws
Jun 3, 2013 ... It's the end of a long day of Saturday shopping. You're at the big box appliance store, looking to replace that old refrigerator. After several ...
www.dangreller.com/sticky-decisions-anchoring-and-adjusting/
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The Effect of Accuracy Motivation on Anchoring and Adjustment: Do ...
The Effect of Accuracy Motivation on Anchoring and adjustment: Do People Adjust From Provided Anchors? Joseph P. Simmons. Yale University. Robyn A.
opimweb.wharton.upenn.edu/files/?whdmsaction=public:main.file&fileID=1614
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Why we sometimes make bad decisions: The anchoring...
Mar 12, 2012 ... This little trick is referred to as the Anchoring and adjustment heuristic. Heuristics are mental shortcuts that we use to help quickly make ...
psych-your-mind.blogspot.com/2012/03/why-we-sometimes-make-bad-decisions.html
Search results for "Anchoring and adjustment"
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Anchoring and adjustment in science
[PDF](2006). The anchoring and adjustment heuristic - Cornell University ...
Research Article. The Anchoring-and-Adjustment. Heuristic. Why the Adjustments Are Insufficient. Nicholas Epley1 and Thomas Gilovich2. 1University of ...
Chapter 10 - Anchoring and adjustment biases - University ...
Summary. When people have an obvious anchor, they may estimate probabilities using Tversky and Kahneman's (1974, p. 1128) Anchoring and adjustment ...
The Anchoring-and-Adjustment Heuristic - Psychological Science
The Anchoring-and-Adjustment Heuristic. Why the Adjustments Are Insufficient. Nicholas Epley1 and; Thomas Gilovich2. 1University of Chicago. 2Cornell ...
Perspective Taking as Egocentric Anchoring and Adjustment.
Perspective Taking as Egocentric Anchoring and adjustment .... Seventy-two undergraduates at the University of Chicago participated either for pay or partial ...
[PDF]Putting adjustment back in the anchoring and adjustment ... - Faculty
1Harvard University and 2Cornell University. Abstract—People's ... results suggest it is time to reintroduce Anchoring and adjustment as an explanation for some ...
An anchoring and adjustment model of brand extension - OhioLINK
1997, Doctor of Philosophy, Ohio State University, Business Administration. ... According to the Anchoring and adjustment model, the evaluation of the core ...
anchoring and adjustment - Search Results University Press ...
Heuristics and biases theorists treat conventional rational choice models as normatively appealing, but descriptively inaccurate. The chapter emphasizes that ...
Perspective Taking as Egocentric Anchoring and Adjustment - SSRN
Feb 18, 2010 ... Perspective Taking as Egocentric Anchoring and adjustment ... Boaz Keysar. University of Chicago - Department of Psychology ...
[PDF]Overconfidence in estimation: Testing the anchoring-and-adjustment ...
Overconfidence in Estimation: Testing the. Anchoring-and-Adjustment. Hypothesis. RICHARD A. BLOCKANDDAVID. R. HARPER. Montana State University.
Anchoring and Adjustment Decision-Making Heuristic « Prediction ...
Nov 19, 2012 ... This decision-making heuristic is called Anchoring and adjustment. ... The Anchoring and adjustment heuristic is when you start with a piece of ... Benjamin Motz & The Trustees of Indiana University | Copyright Complaints
Books on the term Anchoring and adjustment
Judgment and Decision Making: Psychological Perspectives
Judgment and Decision Making: Psychological Perspectives
David Hardman, 2009
One problem for the original notion of Anchoring and adjustment is that the selective accessibility theory does not appear to have any need of the adjustment element. Although the findings are consistent with there being an element of ...
An Anchoring and Adjustment Model of Brand Extension Effects on ...
An Anchoring and Adjustment Model of Brand Extension Effects on ...
Nanda K. Viswanathan, 1997
Abstract: The effect of brand extension performance on the core brand was investigated. An Anchoring and adjustment model was proposed to explain the effects of brand extension performance on the core brand.
Social Psychology
Social Psychology
Catherine A. Sanderson, 2009
The accessibility of information can also lead to reliance on the Anchoring and adjustment heuristic, in which people rely on an initial starting point in making an estimate and then fail to adequately adjust their original decision (Mussweiler ...
Cognitive Biases in the Capital Investment Context: Theoretical ...
Cognitive Biases in the Capital Investment Context: Theoretical ...
Sebastian Serfas, 2010
Similarly distortive consequences can also result from the third and final fundamental heuristic, which is covered in the subsequent part: Anchoring and adjustment. 3.2.2.3 Anchoring and adjustment Heuristic The Anchoring and adjustment ...
Brick & Mortar Shopping in the 21st Century
Brick & Mortar Shopping in the 21st Century
Tina Lowrey, 2012
This book explores how traditional retailing operates in the new competitive environment of a combined e-tailing and brick and mortar marketplace.
Development of Google searches


Blog posts on the term
Anchoring and adjustment
Sticky Decisions – Anchoring and Adjusting | Invisible Laws
Posted on June 3, 2013 by Dan.
www.dangreller.com/sticky-decisions-anchoring-and-adjusting/
Anchoring and Adjustment - Less Wrong
lesswrong.com/lw/j7/anchoring_and_adjustment/
EconoMonitor : EconoMonitor » The Law of Nice Numbers: Incidence of Anchoring
Economic analysis, discussion and debate.
www.economonitor.com/blog/2013/08/the-law-of-nice-numbers-incidence-of-anchoring/
The Ability To Influence Peoples Final Judgement Psychology Essay
Anchors have the ability to influence peoples final judgement. The current study involved examining whether ...
www.ukessays.com/essays/psychology/the-ability-to-influence-peoples-final-judgement-psychology-essay.php
Anchoring-and-Adjustment Heuristic - PsychWiki - A Collaborative Psychology Wiki
www.psychwiki.com/wiki/Anchoring-and-Adjustment_Heuristic
To Speak the Truth: Anchoring and Adjustment
When I was a defense attorney I couldn’t help but notice how sentences for similar crimes and similar defendants were often different in different counties regardless of judges. There appeared to be different cultures of understanding among counties as to what level of punishment was appropriate for different crimes.
bauersteven.blogspot.com/2011/02/anchoring-and-adjustment.html
Psych Your Mind: Why we sometimes make bad decisions: The anchoring and adjustment heuristic
How much to pay for the house of your dreamsImagine you are interested in buying a house and you've been out looking on the weekends. You find a 3 bedroom, 2 bath bungalow on a quiet street that already feels like home.
psych-your-mind.blogspot.com/2012/03/why-we-sometimes-make-bad-decisions.html
Anchoring & Adjustment on “Hell’s Kitchen” | Sentient Insight
One of the Sentient Applied Choice Architecture principles is Anchoring and adjustment –defined as the influence of an arbitrary number on subsequent
www.sentientinsight.com/hells-kitchen-anchoring-adjustment/
Anchoring and adjustment during social inferences. | Psychologist Brisbane
Posted on April 29, 2013 by admin.
psych-assist.com.au/anchoring-and-adjustment-during-social-inferences/
Anchoring and Adjustment | Guido Jansen
www.gxjansen.com/anchoring-adjustment/
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