- Our judgment regarding the frequency, probability, or value of items is often determined by comparing the item to an anchor point.
- Mentalists can exploit anchoring by knowing that when asked to pick a number “people tend to pick one close, or anchored on, any number with which they are initially presented or in the case of a scale one close to the midpoint”.
- Once we have an anchor price in our mind, it will shape not only how we view present prices but future prices as well.