Initial information can heavily influence final decisions from "summary" of Judgment in Managerial Decision Making by Max H. Bazerman,Don A. Moore
The information we receive at the beginning of a decision-making process can have a significant impact on the choices we ultimately make. This phenomenon occurs because we tend to anchor on initial information, allowing it to serve as a reference point for subsequent judgments. When we are presented with a piece of information early on, we subconsciously give it more weight than it may actually deserve. This anchoring effect can lead us to make decisions that are not necessarily in our best interest, as we may be overly influenced by information that is not particularly relevant or accurate.
Anchoring can be particularly problematic when it comes to numerical values. For example, if we are given a high anchor number before estimating a value, our final estimate is likely to be higher than if we were given a lower anch...
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