The Anchoring Bias: Why The First Offer Matters

Conversation - B1-B2 | Intermediate Level

4.9 $

Jan. 23 Fri , 03:00 USA

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Description

In this session, we will explore the concept of the anchoring bias and why the first offer matters in decision-making. You will learn simple examples to recognize when an initial number or suggestion might influence your choices. By the end of the session, you will be able to spot anchoring effects in negotiations, shopping, or everyday situations and make smarter, more balanced decisions.

Session Activities

1: Have you ever made a decision based on the first price you saw?

2: Do you trust your first instinct when making decisions?

3: Do you usually compare offers before deciding?

1: Can you give an example from shopping where anchoring affected you?

2: How does anchoring bias affect salary negotiations?

3: Have you ever experienced anchoring in online shopping?

4: Do you think experience reduces the effect of anchoring?

5: How does anchoring bias influence budgeting or spending?

6: Can cultural differences affect how anchoring works

7: How can knowing about anchoring improve your decision-making skills?

Anchor

An anchor is something that gives a starting point or reference that influences your decisions.

Counteroffer

an offer made in response to another offer, usually with different terms.

Set the tone

to influence how things develop

Make or break

can determine success or failure