What is Anchoring Bias? Easy Explanation with Example Understanding Anchoring Bias Anchoring bias is a cognitive tendency where people heavily rely on the initial piece of information they receive when making decisions. They use this initial information as a reference point and judge subsequent information in relation to it. Here's an Example: Imagine you're at a car dealership. The salesperson starts by showing you the most expensive cars on the lot. Initially, you might think these cars are ou