I reached for the discount sticker without thinking. “Half price? Well, I might as well buy it.”——But when I think about it calmly, it's doubtful whether I really needed it. Have you ever had the ...

Whether it's prices, prison sentences, or wine ratings—the first number you see quietly pulls your subsequent judgments ...

Imagine making a crucial decision only to realize later that your choice was heavily influenced by the first piece of information you encountered. This cognitive bias, known as the anchoring effect, ...

The psychological anchoring effect occurs when people rely too heavily on the first piece of information they receive when making decisions or estimates. That early piece of information becomes a ...

Most of those who work in civil litigation are now familiar with the “anchoring effect,” and know that suggesting a number has an influence when it comes to damages. But attorneys may not know just ...

Question: How did the jury arrive at the decision to award the plaintiff $20 million in damages? Actual Juror #1: We came up with a percentage approach, and that’s what we all discussed. We started ...