Ever notice how the first number you hear can sneak into every decision you make? From grocery shopping to cooking to negotiating a raise, that first piece of information often sets the stage.

Question: How did the jury arrive at the decision to award the plaintiff $20 million in damages? Actual Juror #1: We came up with a percentage approach, and that’s what we all discussed. We started ...

Imagine making a crucial decision only to realize later that your choice was heavily influenced by the first piece of information you encountered. This cognitive bias, known as the anchoring effect, ...