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, ...

Discover the anchoring effect: a cognitive bias where initial information unduly influences decision-making and perceptions ...

Citations: Ku, Gillian, Adam Galinsky, J. Keith Murnighan. 2006. Starting Low but Ending High: A Reversal of the Anchoring Effect in Auctions. Journal of Personality and Social Psychology. (6)975-986.

Most of those who work in civil litigation are now familiar with the “anchoring effect,” and know that suggesting a number has an influence when it comes to damages. But attorneys may not know just ...