![]() ![]() After watching this, people were asked to guess the percentage of African nations that were members of the United Nations. In another variation of their research, participants watched a roulette wheel that would stop on either number 10 or number 65. The researchers even found that completely arbitrary, unrelated information could act as an anchor for future choices. This meant that their later answers were influenced by whatever those initial anchor points were. Because there was no time to do the actual calculations, people would base their subsequent guesses on their first few calculations. In one early study, participants were asked to compute the product of a long list of numbers in a very short amount of time. This phenomenon was first described by the researchers Amos Tversky and Daniel Kahneman. Also, explore some strategies that you can use to avoid the anchoring bias in order to make more accurate decisions. In this article, learn more about what causes the anchoring bias and how it can impact your choices. ![]() This bias can lead to poor decisions and skewed judgments that are inaccurate or that don’t fully account for subsequent information. That information serves as an anchor or reference point from which all further judgments or decisions are formed. The anchoring bias is a type of cognitive bias that causes people to rely too much on the first piece of information that they learn. This anchoring effect is highly prevalent across a wide range of situations–and it’s also very difficult to overcome.The anchoring bias causes people to use the first they learn as a reference point for making future judgments and decisions.
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