Anchoring Bias

Daughter – Mom. I think I’m going to get this blouse.

Mom – Well, it’s your money.

Daughter – It sounds like you don’t approve.

Mom – It’s a lovely blouse and you know how much money you have.

Daughter – But? I know there’s something you don’t like.

Mom – You make good judgments.

Daughter – Mom. I’m still open to your opinion.

Mom – Well, the blouse seems expensive.

Daughter – Really? The one in the window was $250. And the one on the manikin was $150. This one’s only $60.

Mom – When is the last time you paid $60 for a blouse?

Daughter – It’s the cheapest blouse in the store.

Mom – Yes it is. But when was the last time you paid $60 for a blouse?

Daughter – What’s your point Mom?

Mom – You think the blouse is cheap because you are comparing it to the first two expensive ones you saw.

Daughter – Well, yeah.

Mom – The store places those expensive ones there so that you anchor on them first and then other things seem less expensive in comparison.

Daughter – Ah. Interesting. So you wanted me to anchor on what I have paid in the past, not what I saw in the store.

Mom – Yeah. You caught that.

Daughter – Thanks Mom. I don’t like it when stores try to manipulate me.

Mom – Nobody does.

Author: ahbtest

Dr. Beitel has decades of experience as a therapist, teacher and parent since earning his Ph.D. from the University of Illinois. As a member of the University of Illinois medical school faculty, Dr. Beitel supervises psychiatry residents in training. He is married to "the other Dr. Beitel", a family physician. He and Joyce have two grown children.

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