Anchoring bias leads consumers to overpay for major purchases like cars or homes because initial price quotes distort their perception of reasonable value.

Authors

• Person: Not available Organization: Verified Investing
  Behavioral Economics: Everyday Biases That Shape Money Choices

Sources

• Behavioral Economics: Everyday Biases That Shape Money Choices verifiedinvesting.com Verified Investing via serper

Referenced by nodes (1)

• anchoring bias concept