Forbes contributors publish independent expert analyses and insights. Bryce Hoffman writes about leadership, strategy, and decision making. This article is more than 2 years old. The anchoring effect ...

Anchoring bias happens when individuals become too focused on the first piece of information that they receive (the “anchor”) when making decisions, even if the information is irrelevant or outdated.

Improper anchoring remains a massive, but solvable, problem that imposes unnecessary burdens on an already overtaxed court system and state. Two years ago we began a project to track and catalogue the ...

Imagine making a crucial decision only to realize later that your choice was heavily influenced by the first piece of information you encountered. This cognitive bias, known as the anchoring effect, ...

In a previous post, I invited scholars to nominate what they think is the best-replicated finding in social psychology. Lukas Röseler, of the University of Bamberg, wrote me to make a case for ...