Editing Bias (section)

====Anchoring====
{{Main|Anchoring_(cognitive_bias)|l1=Anchoring}}
Anchoring is a [[heuristics in judgment and decision making|psychological heuristic]] that describes the propensity to rely on the first piece of [[information]] encountered when [[decision making|making decisions]].<ref>{{Cite journal|last1=Welsh|first1=Matthew B.|last2=Delfabbro|first2=Paul H.|last3=Burns|first3=Nicholas R.|last4=Begg|first4=Steve H.|date=2014|title=Individual differences in anchoring: Traits and experience|journal=Learning and Individual Differences|volume=29|pages=131–140|doi=10.1016/j.lindif.2013.01.002|issn=1041-6080}}</ref><ref name="ScienceDaily">{{cite web | title = Anchoring bias in decision-making | website = Science Daily | url = https://www.sciencedaily.com/terms/anchoring.htm | access-date = September 29, 2015 | url-status = live | archive-url = https://web.archive.org/web/20150929180102/https://www.sciencedaily.com/terms/anchoring.htm | archive-date = September 29, 2015 }}</ref><ref name="Investopedia">{{cite web | title = Anchoring Definition | publisher = Investopedia | url = http://www.investopedia.com/terms/a/anchoring.asp | access-date = September 29, 2015 | url-status = live | archive-url = https://web.archive.org/web/20171023052312/http://www.investopedia.com/terms/a/anchoring.asp | archive-date = October 23, 2017 }}</ref> According to this [[heuristic]], individuals begin with an implicitly suggested reference point (the "anchor") and make adjustments to it to reach their estimate.<ref name="ReferenceA"/> For example, the initial price offered for a [[used car]] sets the standard for the rest of the [[negotiation]]s, so that [[price]]s lower than the initial price seem more reasonable even if they are still higher than what the car is worth.<ref name="TverskyKahneman1974">{{cite journal|last1=Tversky|first1=A.|last2=Kahneman|first2=D.|title=Judgment under Uncertainty: Heuristics and Biases|journal=Science|volume=185|issue=4157|year=1974|pages=1124–1131|doi=10.1126/science.185.4157.1124|url=http://www.hss.caltech.edu/~camerer/Ec101/JudgementUncertainty.pdf|pmid=17835457|url-status=live|archive-url=https://web.archive.org/web/20140817144047/http://www.hss.caltech.edu/%7Ecamerer/Ec101/JudgementUncertainty.pdf|archive-date=2014-08-17|bibcode=1974Sci...185.1124T|s2cid=143452957}}</ref><ref>Edward Teach, "[http://www.cfo.com/article.cfm/3014027 Avoiding Decision Traps] {{webarchive|url=https://web.archive.org/web/20130614061542/http://www.cfo.com/article.cfm/3014027 |date=2013-06-14 }}", [[CFO (magazine)|''CFO'']] (1 June 2004). Retrieved 29 May 2007.</ref>