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Management & Leadership vocabulary · Decision Making

Anchoring bias

Meaning in management & leadership, with examples

nounAdvanced term

In management & leadership, anchoring bias means: A tendency for an initial value or reference point to exert too much influence on later judgements.

In Turkish: çapalama yanlılığı

How it is used

Use when estimates remain pulled towards a starting figure even after new information becomes available.

Example sentences

  1. Anchoring bias kept the team's forecast close to last year's number despite major market changes.

    An available starting number disproportionately shapes the revised estimate.

  2. The negotiator considered anchoring bias before responding to the supplier's opening price.

    The first quoted amount can frame later judgements about what is reasonable.

Common collocations

  • avoid anchoring bias
  • anchoring bias in estimates
  • decision-makingThe process of choosing between different options, including collecting information, weighing risks and benefits, and agreeing who makes the final choice.
  • data-drivenBased on the analysis of facts and figures rather than on opinion, habit or intuition; used about decisions, company cultures and organisations.

More terms: Decision Making

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