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Anchoring Bias

The learner will be able to recognize how an initial number, even an arbitrary one, pulls subsequent numerical judgments toward it. Covers why the first offer in a negotiation disproportionately shapes the final outcome.

Chief Galen Tyrol Video

Anchoring Bias: Why The First Number Pulls Every Judgment After It

Explains the anchoring effect using the classic random-number/estimation studies and shows why the first offer in a negotiation disproportionately shapes the final settlement.