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Anchoring Bias

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Anchoring Bias
A bias in risk assessment in which a patient will estimate the risk of an adverse outcome based on the risk of another related event or procedure already familiar to the patient


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Finally, anchoring bias plays out in everyday life in the tendency of some people to let a single, terrible event dominate their psyche and decision making, such as when an individual avoids investing in the stock market because of a bad prior investment.
Anchoring bias -- overly relying on selective past events when building future forecasts or using some past events as an anchor to evaluate new information even when there is no correlation.
Some studies have shown that experts, too, can suffer from anchoring bias (Northcraft and Neale, 1987; Englich, Mussweiler, and Strack, 2006).
 
 
 
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