Anchoring affects how people evaluate options from "summary" of Misbehaving by Richard H Thaler
Anchoring is a concept that influences how individuals assess and make decisions about various options. When people are presented with a specific starting point or reference point, known as the anchor, they tend to use this information as a basis for their subsequent evaluations. This initial anchor can significantly impact their judgment, leading them to make decisions that may not be entirely rational or logical.
For example, imagine a scenario where individuals are asked to estimate the cost of a particular item after being shown a high price as the initial anchor. Even if the actual cost of the item is much lower, the presence ...
Read More
Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.
