Anchoring is a psychological bias where an individual relies too heavily on the first piece of information encountered when making decisions, which can negatively affect budgeting and spending choices.

Authors

• Person: Not available Organization: Midland National
  Factors that can influence financial decisions

Sources

• Factors that can influence financial decisions www.midlandnational.com Midland National via serper

Referenced by nodes (2)

• psychological biases concept
• anchoring concept