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Anchoring 0:34
A 34-second explainer of Anchoring, narrated over the same demo you can try yourself.
Try the interactive Anchoring demo
What this video covers
Anchoring is the tendency for an initial value or reference point - often but not always a number - to influence later estimates and judgements.
£39 felt like a steal next to a crossed-out £120, and merely fine on its own. The lamp never changed price. The first number did all the work - that is the anchor, quietly telling you what "cheap" means before you've decided for yourself.
