The anchoring effect is a psychological phenomenon in which an individual's judgements or decisions are influenced by a reference point or "anchor" which can be completely irrelevant. Both numeric and non-numeric anchoring have been reported in research.
What does anchoring mean?
Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. ANCHORING definition: 1. present participle of anchor 2. to lower an anchor into the water in order to stop a boat from…. Learn more.
What is anchoring & how does it work?
Anchoring is a well-documented cognitive process that happens outside our awareness (Furnham & Boo, 2011). Anchoring affects our lives and behavior every day. In this article, we’ll explain how it works, describe its benefits and pitfalls, and explore what we can do to reduce its effects.
