Being influenced by initial impressions: When considering decisions, the mind often gives disproportionate weight to the first information it receives. These initial impressions, statistics, or estimates act as an anchor to our subsequent thoughts and judgments. Anchors can be as simple as a random comment by a colleague or a statistic read in a newspaper. Past events and trends act as anchors. For example, in business, managers frequently look at the previous year’s sales when estimating sales for the coming year. Giving too much weight to the past can lead to poor forecasts and misguided decisions.

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