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The first number can set the frame
Anchoring occurs when an initial value influences a later judgement.
The idea
An early number can pull an estimate toward it even when it is a poor reference. Independent comparisons help.
An example
An expensive first offer makes a slightly cheaper second offer feel like a bargain, despite lower prices elsewhere.
Put it into practice
Form your own estimate before seeing someone else's.
Further reading: Tversky & Kahneman · Science ↗
Test yourself: Why can the first price affect later judgements?
It becomes a mental reference point
An anchor influences comparison without establishing the right value.
Explanation and illustrative examples by One Card Wiser. Source linked for further reading.
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