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Anchoringand-adjustment heuristic impacts estimations from "summary" of Thinking Fast and Slow by Book Summary
Anchoring-and-adjustment heuristic is a cognitive bias that affects our estimations by relying heavily on an initial piece of information, or anchor, and adjusting from there. This concept plays a significant role in how we make decisions and judgments, leading us to sometimes make inaccurate estimates based on the initial anchor. When faced with a question that requires an estimation, we tend to start from a reference point, or anchor, and then adjust our judgment based on additional information. However, the initial anchor has a strong influence on our final estimate, even if it is arbitrary or irrelevant to the actual quest...
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