Finally, we come to the anchoring heuristic. This one is also common in marketing. Let’s say I show you a house and then ask you if you think the house is worth more or less than $100,000. I then ask you what you think the house is worth. I ask another person if they think the same house is worth more or less than $500,000, and then I ask them to guess the price. The person who was “anchored” to the $100,000 reference will guess significantly lower than the person who was anchored to the $500,000 price, even though they’re assessing the same house.
