The danger of price bias
Aug 21, 2020
2 minutes
By Simon Brown
nchoring bias is when we fixate on a single piece of information to make an assessment. That is why, during a price negotiation, you should always be the first to suggest a number, because all further negotiations will anchor around the number you proposed, which you would have skewed in your favour. The price should be low if you’re buying and high if you’re selling.
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