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piece of information that they receive (the “anchor”) when making decisions, even if the information is irrelevant or outdated.

Anchoring is a way to set expectations right at the start of a negotiation in ways that make your actual offer more attractive to the other party. Let’s say I’m trying to sell a car, and I’d love to ...