Topic: `anchoring-effect`

5 entries tagged anchoring-effect.

Rules (2)

rule R8 — The tool's number IS the buyer's anchor; sales must be ready to MEET OR EXPLAIN it — bait-and-switch destroys the trust the mechanism case earns
rule R7 — Treat every public number on a client site as an anchor; design accordingly

Reference entries (3)

reference Englich, Mussweiler & Strack (2006) — anchoring replicates with JUDGES: sentences track dice rolls, despite judges' confidence they don't
reference Northcraft & Neale (1987) — anchoring replicates with REAL-ESTATE EXPERTS: agents' valuations track arbitrary listing prices, despite experts' confidence they don't
reference Anchoring effect (Tversky & Kahneman, 1974) — the first number presented becomes a reference point that pulls all later judgments, even when arbitrary