> A basic cup of coffee is about $3. Outside the anchor effect of comparing it to a $10 cup of fructose, $3 is an outrageous cost for a cup of coffee. The anc

> A basic cup of coffee is about $3. Outside the anchor effect of comparing it to a $10 cup of fructose, $3 is an outrageous cost for a cup of coffee. The anchoring effect is a cognitive bias whereby an individual's decisions are influenced by a particular reference point or 'anchor'. Both numeric and non-numeric anchoring have been reported in research. In numeric anchoring, once the value of the anchor is set, subsequent arguments, estimates, etc. made by an individual may change from what they would have otherwise been without the anchor. For example, an individual may be more likely to purchase a car if it is placed alongside a more expensive model (the anchor). https://en.wikipedia.org/wiki/Anchoring_(cognitive_bias) https://en.wikipedia.org/wiki/Anchoring_(cognitive_bias)