Anchor Audition start

Anchoring is a psychological phenomenon where a person's decisions or judgments are influenced by an initial reference point or "anchor". This can happen with both numeric and non-numeric anchors. Anchoring is a type of priming effect and it usually happens without a person's awareness. 

Here are some examples of anchoring:

• Negotiations
• In negotiations anchoring is the tendency to give too much weight to the first number that is presented. For example a negotiator may gain an advantage by making the first offer. 
• Real estate
• The price of the first house a real estate agent shows a buyer can influence the buyer's perception of subsequent houses. 
• Investing
• Analysts may become anchored to the value of an index at a certain level rather than considering historical figures. 
• Criminal justice
• In one experiment judges who rolled a dice that landed on a 9 gave a shoplifter an average sentence of 8 months while judges who rolled a 3 gave a sentence of 5 months. 

Anchoring can also be used in marketing and sales to create a sense of urgency and fear of missing out (FOMO). For example a company might introduce a limited-time discount compared to the initial price. 

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