Anchoring Bias

Shrink Definition

Anchoring bias is the tendency to rely too heavily on the first piece of information encountered when making judgments or decisions, even when that information is incomplete, arbitrary, or irrelevant. The initial "anchor" influences later thinking more than people typically realize.

Plain language

First impressions often stay in the driver's seat.

Shrink Insight

The mind adjusts from its starting point far less than it believes.

Why it matters

Anchoring bias affects: • salary negotiations • medical decisions • investing • shopping • hiring • relationships • forecasting Being aware of anchors allows more deliberate evaluation.

Common misunderstanding

People often believe they ignored the first piece of information. Research consistently shows it still influences later judgment.

Shrink Perspective

Where you begin often shapes where you end.

Shrink Reflection

What first impression have you continued believing without revisiting?

Shrink Journal

Describe a recent decision. What was the very first piece of information you received? Did it influence everything afterward?

Shrink Step

Before making an important judgment, intentionally seek a second independent source of information.

Shrink Minute

Good thinkers question their starting point.

Shrink Takeaway

The first answer deserves examination, not automatic trust.

Medical boundary

Evidence summary

Anchoring bias is one of the best-established findings in behavioral economics and judgment research. Initial information systematically influences later estimates, even when people know the anchor may be arbitrary.