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XS✔ ◾ Update rule - Do you recognize the effects of anchoring (#8547)
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* Update rule - Do you recognize the effects of anchoring

* Update rule.md

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Co-authored-by: Tiago Araújo [SSW] <[email protected]>
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Tanya-Leahy and tiagov8 authored May 15, 2024
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title: Do you recognize the effects of anchoring in decision making?
uri: recognize-anchoring-effects
authors:
- title: Tanya Leahy
url: https://ssw.com.au/people/tanya-leahy
- title: Adam Cogan
url: https://ssw.com.au/people/adam-cogan
- title: Michael Smedley
url: https://ssw.com.au/people/michael-smedley
guid: 69b80ab3-e4fa-4624-93a5-3ec6c01141d8
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Anchoring is a cognitive bias where an initial piece of information (the "anchor") heavily influences subsequent judgments and decisions. This bias can infiltrate various aspects of our lives, including workplace interactions and negotiations. Recognizing how anchoring works is crucial to making informed and unbiased decisions. Custom software is difficult to estimate and using an anchor too early or without the necessary rigour can create issues.

For example, in meetings, it's vital to be aware of anchoring, as the first opinions can shape entire discussions.

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For example, in meetings, it's vital to be aware of anchoring, as the first opinions can shape entire discussions. Seniors and experts can influence a meeting's direction and create anchoring effects; therefore, they should offer their ideas last.

`youtube: https://youtu.be/JL4OoKJyNrc`
**Video: Jeff Bezos: Truth is uncomfortable | Lex Fridman Podcast Clips (6 min)**

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