The anchoring effect. Also known as the anchoring effect and the anchoring trap. Is an important psychological phenomenon. The concept was first proposed by daniel kahneman. Author of thinking. Fast and slow. Who won the nobel prize in economics in 2002. The specific meaning of anchoring effect is: When people need to make a quantitative estimate of an event. They will use some specific value as a starting value. And the starting value acts as an anchor to restrict the estimated value. That is. People are unconsciously influenced by the information they initially obtain when making decisions. Daniel kahneman did an experiment in 1974 to verify this effect:
What is the anchoring effect
He divided high school students into Austria WhatsApp Number List two groups. A and b. And asked them to estimate the value of a multiplication in 5 seconds: You have found that these are two identical formulas. And the result is the same. 40320. This experiment does not care whether the students can guess correctly. But studies the difference in the estimates of the students. The median of the estimates of the students in group a is 512. And the median of the students in group b is 2250. The difference is a full 4 times. This experiment illustrates that in uncertain situations.
The reason for the anchoring effect
People pay more attention to the first information Austria WhatsApp Number List they obtain. And have a preconceived impression that decision-making judgments are influenced by anchors (or anchor values). That is. Under uncertainty. People commit the “Anchoring effect” bias. In order to further understand this concept. I will use another experimental example: Professor john sen monton of harvard business school once also conducted an experiment. He asked subjects who did not have the corresponding background knowledge to answer two sets of questions successively: Does turkey’s population exceed 35 million? What do you think the population of turkey is?