The 'Anchoring and Adjustment' heuristic occurs when humans rely on an initial reference point (the anchor) to make judgments, allowing System 1 thinking to dominate and reducing the cognitive load on System 2 thinking.

Authors

• Person: Paul Conner Organization: Quirk's
  Behavioral economics: what it is and three ways marketers can use it

Sources

• Behavioral economics: what it is and three ways marketers can use it www.quirks.com Paul Conner · Quirk's via serper

Referenced by nodes (2)

• System 1 concept
• Anchoring and Adjustment concept