Mind Traps You Need To Avoid (Part 1) w Mikey Smith
Keep The Change
00:00
The Anchoring Effect
People naturally want to think and talk about themselves more. The anchoring effect doesn't only apply to numbers that appear informative such as in the tree example. According to Kahneman anchors that are obviously random can be just as effective as potentially informative anchors. An experiment was conducted on German judges with an average of 15 years experience. Other negotiations and real estate deals are all playgrounds for the anchoring effect. You can't turn it off but you can try to proactively set your own mental anchors before going into any sales or negotiation environment.
Transcript
Play full episode
