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People are often anchored to an initial piece of information.
Featured in 1 UX Bite
Similar psychology:
Likely impacts:
When asking for a tip in conditions like rain, you could pre-select a higher default amount, so that first number becomes the anchor for what people choose to give.

When users need to set their own price, try suggesting one based on what similar sellers nearby charge, giving them a sensible anchor rather than a guess.

If someone hovers over a product name, e.g., to copy it, one option is to show a comparison of other retailers' prices, so yours is judged against those anchors.

Consider reminding people they're getting a good deal on the final checkout page, so the price is judged against a higher reference point, not in isolation.

Leading with a premium or full-value price may anchor expectations, so the next plan looks reasonable and draws more interest to the option you want people to focus on.
Showing a higher reference price first, e.g., a premium tier or a competitor's price, could make your price feel better value, as people judge it against that anchor.
Pre-selecting a higher default amount, e.g., a tip or add-on, might increase how much customers spend, as they tend to stay close to the first number they're shown.