anchoring
/ˈæŋkɝɪŋ/
over-relying on the first piece of information encountered
anchoring in a sentence
“The initial price serves as an anchor in negotiations.”
Origin of anchoring
From anchor (Latin ancora), from Greek ankyra
Related Words
endowment effect
valuing something more simply because you own it
hyperbolic discounting
preferring smaller immediate rewards over larger later ones
framing effect
different reactions to the same information based on presentation
herd behavior
following the crowd rather than independent analysis
status quo bias
preference for the current state of affairs
mental accounting
treating money differently based on subjective categories