The Importance of Availability Bias in Negotiations

The information you have anchoring is an enormous factor in things like negotiations and pricing. Ask a group of people in a room what the first digit of their phone number is, and then ask them a separate, unrelated question. A higherdigit will yield a higher number on the unrelated question, and a lower first digit yields a lower howid. Many people think that you have an advantage if you go second, but actually the advantage is going first. And the reason is somethingot the way the mind works.