Ankkurivirhettä

Ankkurivirhettä is a Finnish term that translates to "anchor error" or "anchoring bias" in English. It refers to a common cognitive bias where individuals rely too heavily on the first piece of information offered (the "anchor") when making decisions, even if that information is arbitrary or irrelevant. This initial anchor influences subsequent judgments and estimations, pulling them towards the initial value.

The anchoring effect can manifest in various situations, including negotiations, pricing, and legal judgments. For example, in a negotiation, the first price proposed by either party often sets the anchor for the rest of the discussion, and subsequent offers tend to stay relatively close to this initial figure. Similarly, in a courtroom, if a prosecutor suggests an unusually high penalty, it can unconsciously influence the jury's perception of an appropriate sentence, even if they are instructed to disregard it.

Psychological research has demonstrated the pervasiveness of this bias. Studies often involve asking participants to estimate a value, such as the percentage of African countries in the UN. Before providing their estimate, participants are asked to spin a wheel of fortune that lands on a random number. Those who receive a high number on the wheel tend to provide higher estimates, and those who receive a low number provide lower estimates, illustrating how even an arbitrary anchor can skew judgment.

Understanding anchoring bias is crucial for making more objective decisions. Being aware of this tendency allows individuals to consciously question the relevance of initial information and actively seek out additional data points to form a more balanced judgment. It is a reminder that our initial impressions can sometimes lead us astray if not critically examined.