The Anchoring Effect

There's another thing that happens here, and i'd love putting this out to people. When we're trying to operate under instances of uncertainty, these anchors can really bias our decision making. This comes back to the decoy effect. Everything looks cheaper if it's relative to 300 thousand dollars. So printe had it earlir that r our minds had to look for a bench market, lookd for an anchor. Our brains are really bad. It's trying to establish objective value. And in this case, et was relative to this completely arbitrary anchor,. None the less, regardless o how arbitrary it was, it influenced their they're purchasing so ya. I see it everywhere. Cable