Category: Decision Making
The anchoring bias: The powerful pull of first impressions
In an early experiment by Daniel Kahneman and Amos Tversky, participants were asked to compute the product of a series of numbers in 5 secs. But in one group the series was ascending, 1 x 2 x 3 x 4 x 5 x 6 x 7 x 8 whereas in the other it was descending: ...
