What is the effect of anchoring bias in reasoning?

Anchoring bias significantly influences reasoning by causing individuals to heavily rely on the first piece of information they encounter when making decisions or evaluations. This phenomenon occurs because the initial information creates a mental "anchor," which can skew one's perception of subsequent information. For instance, if someone hears a high number associated with a product, this number can influence their perceptions and judgments about the product's value, even if subsequent information is provided that contradicts or challenges that initial figure.

The reliance on this first piece of information can lead to distorted reasoning, as individuals may fail to adequately consider other data that could lead to a more accurate conclusion. This illustrates how anchoring bias can result in judgment errors and impede critical thinking processes, emphasizing the importance of being aware of and mitigating such cognitive biases to arrive at more objective evaluations.