Imagine making a crucial decision only to realize later that your choice was heavily influenced by the first piece of information you encountered. This cognitive bias, known as the anchoring effect, ...

Ever notice how the first number you hear can sneak into every decision you make? From grocery shopping to cooking to negotiating a raise, that first piece of information often sets the stage.

Question: How did the jury arrive at the decision to award the plaintiff $20 million in damages? Actual Juror #1: We came up with a percentage approach, and that’s what we all discussed. We started ...

When you were a kid, the adults in your life likely used some kind of bartering system to convince you to do things. Eat your vegetables? “You get dessert after.” Do your home work? “You get an extra ...

The authors write "Anchoring” is a cognitive bias where an initial number sets a reference point (the “anchor”) that influences subsequent evaluations. In litigation, anchoring is a powerful tool ...