Anchoring and Adjustment is a behavioral economics phenomenon where an irrelevant number or non-numerical value serves as a reference point (the anchor), influencing people's subsequent judgments and behavior as they adjust from that point.

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)

• behavioral economics concept
• Anchoring and Adjustment concept