← Cognitive Bias Cards
Cognitive Bias Cards · Card 2
Anchoring
The first number you see sticks.Even when it's irrelevant.
- The anchor
- Actual worth
- ₹500 once, so ₹300 feels cheap
- ₹300 may still be too much
The first number you see quietly becomes the number everything else gets judged against; even when it has nothing to do with actual value.
In Practice
A stock that once traded at ₹500 and now sits at ₹300 feels "cheap"; even if ₹300 is still more than it's actually worth.
Generic Example
A jacket marked down from ₹5,000 to ₹2,500 feels like a bargain, even if ₹2,500 was always its real value.
Ask yourself
Am I judging this against its actual worth, or against a number I happened to see first?
Shows up in Biases