PubHawk
February 2018 PMID 28484952

The anchoring bias reflects rational use of cognitive resources.

Falk Lieder, Thomas L Griffiths, Quentin J M Huys, Noah D Goodman

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Mentions

18
Peak: 3 in Dec 2020
across 4 sources since Jun 2019

Extended reach

29,497
potential audience

Total likes

65

Video views

1,680

Mentions per month

Jun 2019 – May 2024

Where it's discussed

  • X / Twitter8 posts
  • News5 articles
  • Blogs4 articles
  • YouTube1 videos

AI synopsis

What people are saying

This collection of discussions displays a generally positive and curious attitude toward the article's reinterpretation of the anchoring bias as a rational strategy, exemplified by phrases like 'Is the anchor bias irrational?' and references to its role in negotiations. The tone varies from inquisitive to informative, with some users emphasizing practical implications, thus indicating a moderate but significant level of interest and engagement in the topic.

AgreementModerate agreement

Most discussions acknowledge the research's view that the anchoring bias can be understood as a rational use of cognitive resources, with posts like 'No!' and references to the benefits of relying on previous experiences showing support.

InterestHigh interest

The discourse demonstrates high curiosity and intrigue, with multiple mentions of exploring the nature and implications of the anchoring bias, as well as references to further videos and detailed articles.

EngagementModerate engagement

Posts engage with the topic through questions about whether the bias is truly irrational and how it can be advantageous, indicating moderate but meaningful involvement with the content.

ImpactModerate impact

While the conversations are mainly academic and theoretical, some posts discuss real-world effects like influence in negotiation and decision-making, reflecting a modest potential to influence understanding and behavior.

Abstract in brief

  • The text explains that the anchoring bias, often seen as irrational, can actually be understood as the rational use of limited mental resources, especially when making decisions under uncertainty.
  • By applying a mathematical model of bounded rationality, the researchers developed a process called "anchoring-and-adjustment" to explain how people estimate numbers in a way that accounts for their cognitive limitations.
  • This approach helps unify different observed anchoring effects, showing that what seems like irrational bias may actually be a rational strategy given humans’ finite time and mental capacity.]
Read the full abstract

Top posts

Most liked on X and Bluesky
פסי-חכמולוגית
@smartypsych · X

https://t.co/m93LBHFFaj

May 4, 2023 · 2 likes · 705 followers View post →
Café des sciences (fermé)
@cafe_sciences · X

Comment prendre l’avantage en négociation ? Le biais d’ancrage. par Amisdudoute #PartageCDS https://t.co/dQCFr9yVRZ

Dec 22, 2020 · 1 like · 19,139 followers View post →
Tadeg Quillien
@TadegQuillien · X

@xphilosopher Also, adaptationism is a difficult game. Often people do things that suggest that the mind is not well-designed, but on further reflection these phenomena might actually provide evidence for good design: https://t.co/v7MOp6tdOF

Jan 11, 2022 · 1 like · 1,215 followers View post →
Joaquin Navajas
@joaconavajas · X

@MarianoTappata Por otro lado, pensar solo a los sesgos como comportamientos que no pueden ser explicados con teorías normativas, te deja afuera de la definición al efecto señuelo (https://t.co/RcWYildrUs), al sesgo de anclaje (https://t.co/tAekHfyOIN), entre otros

Jun 15, 2019 · 3,741 followers View post →
Ioan M. Ciumasu
@IoanCiumasu · X

Also interesting, this paper on a key Cognitive Bias: the Anchoring Bias. Lieder, F., Griffiths, T.L., M. Huys, Q.J. and Goodman, N.D., 2018. The anchoring bias reflects rational use of cognitive resources. Psychonomic Bulletin & Review, 25, pp.322-349. https://t.co/Aw28H05B8e

May 4, 2024 · 1,093 followers View post →
Kent Hendricks
@kenthendricks · X

Bonus: Is the anchor bias irrational? No! On average, it’s actually *better* to rely on parallel/previous experiences, contextually relevant / domain-related info, or suggestions from conversation partners to make a prediction or a decision. https://t.co/W8WRKKvCQE https://t.co/k7vOKoIyNR

Mar 5, 2022 · 1,043 followers View post →

All mentions

Green Dots
@GREEND0TS · X

This can prevent them from adapting to new information or changing market conditions. Check out this research for details

May 20, 2024 · 633 followers View post →
Ioan M. Ciumasu
@IoanCiumasu · X

Also interesting, this paper on a key Cognitive Bias: the Anchoring Bias. Lieder, F., Griffiths, T.L., M. Huys, Q.J. and Goodman, N.D., 2018. The anchoring bias reflects rational use of cognitive resources. Psychonomic Bulletin & Review, 25, pp.322-349. https://t.co/Aw28H05B8e

May 4, 2024 · 1,093 followers View post →
פסי-חכמולוגית
@smartypsych · X

https://t.co/m93LBHFFaj

May 4, 2023 · 2 likes · 705 followers View post →
Kent Hendricks
@kenthendricks · X

Bonus: Is the anchor bias irrational? No! On average, it’s actually *better* to rely on parallel/previous experiences, contextually relevant / domain-related info, or suggestions from conversation partners to make a prediction or a decision. https://t.co/W8WRKKvCQE https://t.co/k7vOKoIyNR

Mar 5, 2022 · 1,043 followers View post →
Tadeg Quillien
@TadegQuillien · X

@xphilosopher Also, adaptationism is a difficult game. Often people do things that suggest that the mind is not well-designed, but on further reflection these phenomena might actually provide evidence for good design: https://t.co/v7MOp6tdOF

Jan 11, 2022 · 1 like · 1,215 followers View post →
Café des sciences (fermé)
@cafe_sciences · X

Comment prendre l’avantage en négociation ? Le biais d’ancrage. par Amisdudoute #PartageCDS https://t.co/dQCFr9yVRZ

Dec 22, 2020 · 1 like · 19,139 followers View post →
Les amis du doute
@AmisDuDoute · X

Nouvelle vidéo au sujet du Biais d’ancrage, ce biais cognitif qui fait que, même si vous n’êtes pas d’accord avec un prix, vous accepterez quand même de payer un peu plus que prévu ! Découvrez comment on se fait influencer ! https://t.co/DjsoUeea5U #Science

Dec 14, 2020 · 248 followers View post →
Joaquin Navajas
@joaconavajas · X

@MarianoTappata Por otro lado, pensar solo a los sesgos como comportamientos que no pueden ser explicados con teorías normativas, te deja afuera de la definición al efecto señuelo (https://t.co/RcWYildrUs), al sesgo de anclaje (https://t.co/tAekHfyOIN), entre otros

Jun 15, 2019 · 3,741 followers View post →