As an Amazon Associate I earn from qualifying purchases.

Anchoring Bias Definition and Explanation PDF | Download eBooks

Learn Anchoring Bias definition in organizational behavior with explanation to study “What is Anchoring Bias”. Study anchoring bias explanation with organizational behavior terms to review organizational behavior course for online MBA programs.

Anchoring Bias Definition:

  • A tendency to fixate on initial information, from which one then fails to adequately adjust for subsequent information.

    Organizational Behavior by Stephen P. Robbins, Timothy A. Judge



Anchoring Bias Explanation:

Anchoring bias or focalism is a term used in psychology to describe the common human tendency to rely too heavily, or "anchor," on one trait or piece of information when making decisions. During normal decision making, individuals anchor, or overly rely, on specific information or a specific value and then adjust to that value to account for other elements of the circumstance. Usually once the anchor is set, there is a bias toward that value. Take, for example, a person looking to buy a used car - they may focus excessively on the odometer reading and the year of the car, and use those criteria as a basis for evaluating the value of the car, rather than considering how well the engine or the transmission is maintained. Anchoring or focalism is a cognitive bias where an individual depends too heavily on an initial piece of information offered when making decisions.

Keep Learning Organizational Behavior Explanations

What are Low-Context Cultures?

Low-context culture as a culture that conveys data in an immediate way that depends essentially on words. Low-setting societies don't ...

What is Integrative Bargaining?

Integrative dealing (likewise called "intrigue based haggling," "win-win bartering") is an exchange technique wherein gatherings team up to discover a ...

What is Procedural Justice?

Procedural equity concerns the reasonableness and the straightforwardness of the procedures by which choices are made, and might be appeared ...

What are Intellectual Abilities?

Intellectual capacity alludes to the abilities required to think basically, see associations among controls and issue comprehend in new or ...

What is Escalation of Commitment?

Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from a ...

What is Negotiation?

Negotiation alluding to representatives who, in contrast to the patricians, had no recreation time in their enterprising nature; it held ...