![]() In another study, researchers created a “Wheel of Fortune” with numbers 0-100. (And if you’re curious, neither group was right: Gandhi died at age 78.) The initial number was the anchor, lowering or raising the average answer. The first group guessed an average of 50, while the second guessed an average of 67. Regardless, though, these numbers influenced the answers. It seems silly obviously, he was older than 9, and he couldn’t have been 140. “Did Gandhi die before or after the age of 140?” ![]() “Did Gandhi die before or after the age of 9?” In a study conducted by Strack and Mussweiler, the psychologists asked half of the participants: We don’t usually try to get more objective and ask ourselves, “How much did it cost to produce?”, “Could I make one for less?” Or, “I better check Winners to see if they have any for even less!” How Old Was Gandhi When He Died? If it’s 20% off, we automatically think we’re “winning.” Like it or not, aware of it or not, our minds continually refer back to that $50 price tag. That is the anchor, the first piece of information we have about this product. Every time you hit a sale at Loblaws or The North Face, you experience the anchoring effect – and a depleted wallet! What is it, and how does it work?Ī Look at Anchoring Outside the Mediation RoomĪnchoring is the cognitive bias that influences us to give much greater weight to the first information we receive. The anchoring effect is a powerful psychological truth that can be employed to this end. While the goal of mediation is to allow parties to resolve conflict and develop mutually beneficial solutions, it’s natural to seek an edge, an advantage that guides the conversation closer to one’s side of the issue.
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