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Research on Anchoring Effect
- 1 Beijing NO.80 high school
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Abstract
A psychological phenomena is the anchoring effect. It alludes to the idea of a person’s judgment or choice being influenced by an otherwise unrelated reference point or “anchor.” Once the anchor’s value is determined in numerical anchoring, the person’s following arguments, estimates, etc., may differ from what they would have been without the anchor. Traditional economics holds that people make rational decisions and are not distracted by meaningless numbers. The “anchoring effect” discovered by Daniel-Kahneman-and-Amos-Tversky is a very typical psychological bias, and it is a rejection of the assumption of a “rational person.” The anchoring effect refers to the fact that when people need to evaluate an event, they will use some specific value as an initial reference value, and this initial reference value is like an anchor that restricts the evaluation result.
Keywords
anchoring effect, judgement, influence
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Cite this article
Wang,Y. (2023). Research on Anchoring Effect. Advances in Economics, Management and Political Sciences,55,30-33.
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Volume title: Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
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