Anchoring effect Phenomenon that if a person is asked to estimate the value of a quantity this estimate will be biased towards any value which has previously been given, even when the person knows that the latter value was randomly determined.   (see also: Heuristics, Availability heuristic, Representative heuristic, Availability, Salience, Representativeness, Vividness)   Back to: Glossary A-C, Glossary D-H, Glossary I-P, Glossary Q-S, Glossary T-Z   Glossary of selected Judgement & Decision-making, Belief-related, and other Psychology terms A-Z »   » Return to belief, judgement, and clear thinking » Labels: anchoring effect, definition: ‘anchoring effect’

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