Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. We all know that marketing is about persuasion. And what better way to persuade someone to ...

Anchoring bias happens when individuals become too focused on the first piece of information that they receive (the “anchor”) when making decisions, even if the information is irrelevant or outdated.

Let’s have some fun and start off with a little quiz. Take out pen and paper and write down the answers to the following two questions: (1) How old are you? (2) How many people worldwide died in major ...

An anchor is a trigger that creates a response in your subject. You can set anchors for yourself; for example, an alarm clock that prompts you to wake up and turn off the alarm. A good salesperson or ...

The authors write "Anchoring” is a cognitive bias where an initial number sets a reference point (the “anchor”) that influences subsequent evaluations. In litigation, anchoring is a powerful tool ...

Most of those who work in civil litigation are now familiar with the “anchoring effect,” and know that suggesting a number has an influence when it comes to damages. But attorneys may not know just ...

The subconscious mind will use almost anything to "help" us think and make decisions. Be alert or be fooled. Source: Shutterstock Want to make better decisions? Be alert to the troublesome anchoring ...