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Anchoring

Description

A cognitive bias whereby an individual's decisions are influenced by a particular reference point or 'anchor'.

Example 1:

The first salary figure mentioned in a job negotiation often sets the range for the rest of the discussion, heavily influencing the final agreed-upon salary.

Example 2:

During salary negotiations, the first number mentioned (either by the candidate or the employer) often heavily influences the final agreed-upon salary, regardless of objective market rates.