The Anchoring Bias: Why The First Offer Matters

Anchoring is a cognitive bias that skews your judgments based on the first piece of information you see. Whether in negotiations, medicine, or everyday choices, this bias influences even the smartest minds. JOIN us as a Youtube member for special perks: ❤️ https://www.youtube.com/channel/UC-RKpEc4eE9PwJaupN91xYQ/join SUPPORT our mission to create free video lessons on Patreon: ❤️ https://www.patreon.com/sprouts FOLLOW us on facebook: 👍 https://www.facebook.com/sprouts.schools/ DISCOVER more Sprouts Channels and our other projects here: ✨ https://bio.link/sprouts 1,000 THANKS to our patrons and members who made this video possible: 🙏 Adam Berry, Alfred Holzheu, ArkiTechy, Arlene Weston, azad bel, Badrah, Carmina Marinca, Cedric.Wang, Christoph Becker, Coach Moteib, Cory McAbee, Delandric Webb, Dr. Matthias Müller-Mellin, Duane Bemister, Elias Reuss, Eva Marie Koblin, F J V Souza Fh, George TY, Gerardo Enrique Nieto, Granson, Izzy, Jeffrey Cassianna, Jim Pilgrim, Joanne Doyle, Jose Manuel Rodrigues, Kamran Razvan, Karen Byrne, Kevin Deasy, Kristina Potočnik, Leonel, Liam Dalling, Linda Kinkead, Lorena, Louricha Opina-Tan, Lucia Simone Winston, Marcel, Marwa Atteya, Mathias Hemetsberger, Mezes.Macko, Michael Paradis, Michel Kuhne, MzE, Oweeda Newton, Pablo, Raymond Fujioka, sameerr M, scripz, SleepyS|0th, Stefan Gros, Super Mario, susan gatt, Taka Kondo, The Wermat Productions, Yassine Hamza, Yvonne Clapham, 헤롱 헤롱 and all the others.Thank you! To join them visit www.patreon.com/sprouts COLLABORATORS Script: Jonas Koblin and Ludovico Saint Amour di Chanaz, PhD Cartoon artist: Pascal Gaggelli Producer: Selina Bador Voice artist: Matt Abbott Coloring: Nalin Editing: Peera Lertsukittipongsa Sound Design: Miguel Ojeda Publishing: Vijyada Songrienchai SOUNDTRACKS Friendly Phantom - Shaun Frearson Midnight Mischief - Jonathan Boyle On https://sproutsschools.com/the-anchoring-bias, you'll soon also find: -All our sources -Ideas for a classroom project on the topic -The full script, core graphics, and additional resources -The video without background music (good for divergent minds) CHAPTERS 00:00 The psychological trick 00:16 What is anchoring? 00:30 Anchoring effect and impact 01:09 Rigged wheel experiment 01:40 Morris’ MBA experiment 02:20 The hidden influence 02:51 What do you think? 03:11 Sprouts book promo 03:43 Ending 03:57 Patrons credits #sproutsschools #psychology #anchoringeffect #cognitivebias