Thursday, January 5, 2006

The Anchoring Trap

The anchoring trap is a common mental phenomenon. When considering a decision, the mind gives disproportionate weight to the first information it receives. The first impression, given as data information or figure, anchors subsequent thoughts and judgments. We fall into this kind of trap all the time. This is a trick normally used by a good negotiator, salesperson or even service/product survey not professionally designed. To avoid this trap one should follow below techniques:-

  • View a problem from different perspectives;

  • Look at the problem on your own before consulting others;

  • Be open minded;

  • Not to anchor others who may be advising you;

  • Be very careful of anchors in negotiations. Carefully evaluate your position before entering any negotiations.

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