Have you ever made a purchase based on the "average price" of an item, thought you got a great deal and realized you could have bought it for even less somewhere else? Have you ever negotiated your ...

Let’s have some fun and start off with a little quiz. Take out pen and paper and write down the answers to the following two questions: (1) How old are you? (2) How many people worldwide died in major ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. We all know that marketing is about persuasion. And what better way to persuade someone to ...

Anchoring bias is a form of cognitive bias where people tend to place extra importance on the first piece of information they get on a topic, regardless of the accuracy of that data point. In ...

An important weapon in a negotiator’s arsenal, the anchoring behavioral bias involves people’s inclination to fixate on the first number they are exposed to and use that number as the starting point, ...

Guest essayist Amber Hunt writes that most people think they make rational financial decisions. But they don't.

Research looks at how experiencing rudeness amplifies anchoring bias including in doctors' decision-making. Have you ever been cut off in traffic by another driver, leaving you still seething miles ...

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, ...

This is the 17th article in the Behavioral Finance and Macroeconomics series exploring the effect behavior has on markets and the economy as a whole and how advisors who understand this relationship ...

Let’s have some fun and start off with a little quiz. Take out pen and paper and write down the answers to the following two questions: (1) How old are you? (2) How many people worldwide died in major ...