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piece of information that they receive (the “anchor”) when making decisions, even if the information is irrelevant or outdated.

Have you ever made a purchase based on the "average price" of an item, thought you got a great deal and realized you could have bought it for even less somewhere else? Have you ever negotiated your ...

Anchoring or focalism is a term used in psychology to describe the common human tendency to rely too heavily, or "anchor," on one trait or piece of information when making decisions. During normal ...

Even with an MBA from the top business school, the top leader of a company can still make poor decisions. It does not matter how much information he has at his disposal. If he relies on the wrong ...

We all know that marketing is about persuasion. And what better way to persuade someone to buy your products than by understanding their psychology? Savvy marketers use psychology to get ahead of ...