Anchoring bias
Anchoring bias is a tendency to fixate on initial information, from which one then falls to adequately adjust for subsequent information.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
Anchoring bias. A tendency to fixate on initial information, from which one then falls to adequately adjust for subsequent information.
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
Anchoring bias. Occurs when predictions of future events are influenced too heavily by recent events.
