Anchoring is the cognitive bias where clients form a viewpoint and use it as a reference point for assessing future decisions, often relying on the first piece of information they are exposed to, such as an initial purchase price, which makes it difficult to modify their assessment when new information arises.

Authors

• Person: Not available Organization: Financial Planning Association
  Understanding Behavioral Aspects of Financial Planning and Investing

Sources

• Understanding Behavioral Aspects of Financial Planning and Investing www.financialplanningassociation.org Financial Planning Association via serper

Referenced by nodes (1)

• anchoring concept