Thursday, May 5, 2011

Anchoring Bias

Anchoring or focalism is a term used in psychology to describe the common human tendency to rely too heavily, or "anchor," on one trait or piece of information when making decisions.

During normal decision making, individuals anchor, or overly rely, on specific information or a specific value and then adjust to that value to account for other elements of the circumstance.

Usually once the anchor is set, there is a bias toward that value.

Take, for example, a person looking to buy a used car - they may focus excessively on the odometer reading and the year of the car, and use those criteria as a basis for evaluating the value of the car, rather than considering how well the engine or the transmission is maintained.

11 comments:

  1. Cool :> There's terminology for everything, it seems.

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  2. Interesting, I gotta stop reading into things from so little information haha.

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  3. hm that makes sense, keep up the posts!

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  4. its understandable, but definitely shows you have to look at the whole picture not one detail

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  5. Really nice read, i can completly find in points of your blog! Keep it up =]

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  6. I definitely do this, its a hard habit to get out of!

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