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📍20 cognitive distortions that affect your decisions. Part 1.
Anchor Effect.
People often estimate something based on an initial value. In a salary negotiation, whoever offers first sets a series of probabilities in the other person's mind.
Sales work on the same principle: you see an item that used to cost 100 dollars and now costs 50.
Never mind that 50 dollars is an inflated price, you unwittingly compare it to the original price of 100 dollars.
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