Anchoring and adjustment heuristic is a mental shortcut that involves using a number or value as a starting point, and then adjusting one's answer away from this anchor; people often do not adjust their answer sufficiently.

People who have to make judgements under uncertainty use this heuristic by starting with a certain reference point (anchor) and then adjust it insufficiently to reach a final conclusion. Example: If you have to judge another person ´s knowledge, the anchor for your final (adjusted) judgement may be your own level of knowledge. Depending on your own level of knowledge you might therefore underestimate or overestimate the knwledge of this person


Other /More definition:
Anchoring and adjustment heuristic refers to a tendency to make judgments by beginning with an initial estimate (an anchor) and then adjusting this estimate to reach a final decision.

Related Articles

Anchoring and adjustment at psychology-glossary.com■■■■
Anchoring and adjustment refers to the tendency to judge the frequency or likelihood of an event by using . . . Read More
Anchoring at psychology-glossary.com■■■
Anchoring refers to a decision-making Heuristic in which final estimates are heavily influenced by initial . . . Read More
Lateral at psychology-glossary.com■■■
Lateral means located toward the side, away from the midline; - - In psychology, the term "lateral" . . . Read More
Factor analysis at psychology-glossary.com■■■
Factor analysis refers to statistical technique used to reduce large amounts of data (eg. answers to . . . Read More
Reading span at psychology-glossary.com■■■
Reading span refers to the largest number of sentences read for Comprehension from which a person can . . . Read More
Bystander effect at psychology-glossary.com■■■
Bystander effect refers to the finding that the greater the number of bystanders who witness an emergency, . . . Read More
Causal attributions at psychology-glossary.com■■■
Causal attributions refer to the explanations people make for the events they observe; the explanations . . . Read More
Social Comparison at psychology-glossary.com■■■
Social Comparison means examining the difference between oneself and another person; - - Other /More . . . Read More
Humanistic Model at psychology-glossary.com■■■
- Humanistic Model : The Humanistic Model states that our problems originate when we are prevented from . . . Read More
Reaching companies for acheiving your sales targets! at top500.de■■■
Reaching companies for acheiving your sales targets!: We have complete validated lists of companies in . . . Read More