Skip to content
Know.itKnow.it
Create an animated lesson
On request

This article is free to read. Creating a lesson uses your daily or stored credits; review the language and settings before starting.

What is anchoring bias?

PsychologyLesson on requestFree to read

Quick answer

Anchoring bias is the tendency to rely too heavily on the first piece of information you hear when making decisions. That initial 'anchor' — like a starting price — pulls your judgment toward it, even when it's arbitrary or irrelevant.

Key things to understand

  1. The first number or fact you encounter sets a mental reference point.
  2. Later judgments stay biased toward that anchor.
  3. It works even when the anchor is clearly random.
  4. Retailers use it: a high 'original price' makes a sale look better.
  5. Awareness helps, but anchors are surprisingly hard to ignore.

People also ask

What is an example of anchoring bias?
Seeing a $1,000 'original price' makes a $600 jacket feel cheap, even if $600 is more than it's worth — the first number anchors your sense of value.
Why does anchoring work even with random numbers?
The mind adjusts away from whatever starting point it's given but usually stops too soon, leaving the final estimate pulled toward the anchor.
How can you reduce anchoring bias?
Deliberately consider the opposite, gather independent reference points, and question where your first number actually came from.