Thinking - Fast and Slow
Daniel Kahneman
Contributed by Larisa Brooke
Chapter 11

The anchoring effect is an occurrence under which people consider value for a quantity not known to them before actual estimation of the amount. An anchoring effect is a form of experimental psychology. The anchoring adjustment is a measurable index that occurs since System 1 understands of statement is by making them look true. The decisions people alive at are generally influenced by some uninformative figures. The two systems manifest two different but familiar anchoring results. System 2 yield a deliberate anchor, while the other returns an automated primitive effect. The anchoring effect makes us suggestive that we think while some ends up misusing the anchoring effect.


The anchoring effect dramatically influences the decisions people make, and if due care is not taken, one may arrive at a biased conclusion. The anchoring effect extends fur that the control System 2 poses. The most limiting factor on the anchoring impact on decisions is System 2 does not portray the capability to understand and control. The anchoring effect can also be the main reasons why people make an insufficient adjustment and uninformed decision making. The anchoring results if appropriately understood ease the burden of consultation and informing oneself before deciding. The effort System 1 utilizes creates a more straightforward way of arriving at a comfortable decision. The bias illustrated in the chapter has a unique trait which is it can be controlled by System 1 even though it occurs without its knowledge.

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