
Ed Miller Explains How Anchoring Can Open Up A Small Game (An article originally published on Card Player) The book, Thinking Fast And Slow by Daniel Kahneman, introduced me to the concept of anchoring. It’s a concept anyone who works in sales must no doubt be intimately familiar with, but it was new to me when I read the book. Here’s the idea. You can affect a person’s estimates of value, size, and so on by throwing out a number before they come to their conclusion. Say you have an item that has obvious, but probably not exceptional value. Something like a nice pair of headphones. You take a group of people and divide them in two. You ask the first group, “How much do you […]