Anchoring Bias
This video presents the same text shown beside it, spoken and on screen. It adds nothing the text does not say.
State
Anchoring bias is the tendency to rely too heavily on the first piece of information encountered when making an estimate.
Show
A stated asking price shapes what buyers judge a used car to be worth, even when it is arbitrary.
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Knowing about anchoring does not remove it. The effect appears in people warned about it in advance.