By Peter Ramsey

24 Aug 23

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UX Psychology

The Anchor Effect

Summary

People are often anchored to an initial piece of information.

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Introduction

People become irrationally anchored to the first piece of information that they see.

i.e., in a sales negotiation, the person who first suggests a price has anchored the barter around that value.

https://content.builtformars.com/uploads/images/AnchroBias_2022-12-10-151945_azxg.jpg

In the above illustration, the second option would likely feel like a better deal, because the 'value' of the shoe has been anchored at $900, despite there being a sale price.

That’s theory, now learn about how to implement this.

BFM+

£8/mo

For product builders

  • Impacts of The Anchor Effect
  • Product tips (i.e., what you should do now)
  • Related UX bites for more examples