Anchoring
When anchoring, people will start at the anchored amount, then continuously adjust up/down until they are no longer certain if they should still be adjusting or not (region of uncertainty).
- In other words, as soon as you start entering the region of uncertainty, you stop.
When presented with an anchoring situation, we know 2 things off the bat: that the anchor is wrong, and which direction to move in. The method that we "move" is by making arguments
People adjust less (ie. Stay closer to the anchor) when mentally depleted
The anchor does not have to be related to what is being estimated. Anchors do not have their effects because people believe they're informative
Anchoring examples: coming off highway at 120km and entering city where limit is 60km feels awkward.
price tags by themselves are not necessarily anchors. They become anchors when we contemplate buying a product or service at that particular price.
Associative coherence
saying 30 degrees celsius evokes thoughts of sun and the beach, while 0 degrees evokes thoughts of snow and ice
The selective activation of compatible memories explains anchoring: the high and the low numbers activate different sets of ideas in memory.
Resisting anchoring
focus attention on arguments of why the anchor is wrong. Focus attention on the minimal offer that the person would reasonably accept, and cement that as your anchor
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