Day: February 9, 2011

Tools for Negotiation: Anchoring

Reading Time: 2 minutes Anchoring, as defined by Psychologists Amos Tversky and Daniel Kahneman in a 1974 experiment, is an essential psychological process in the arena of sales and persuasion. People tend to rely too heavily on a piece of information when making decisions. We have trouble sufficiently adjusting any resulting estimates or conclusions reached based on the information …

Tools for Negotiation: Anchoring Read More »