Anchoring (Behavioural Economics)
3:46
tutor2u.net
Anchoring (Behavioural Economics)
What is anchoring and how does it affect choice?Value is often set by anchors or imprints in our minds which we then use as mental reference points when making decisions. An anchor is any aspect of the environment that has no direct relevance to a decision but that nonetheless affects people's judgments. Once an idea or a value is firmly ...
Mar 21, 2021
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