Price Anchoring: How Initial Numbers Influence Value

What is this page about?

An explainer of price anchoring, the way the first number encountered hijacks a valuation, illustrated by a jacket marked down from 495 to 149 dollars that reads as a deal regardless of the item's real worth.

It covers Kahneman and Tversky's 1974 rigged-wheel research, how anchoring works psychologically, Dan Ariely's arbitrary-coherence extension, how retailers and negotiators use anchors in retail, salary, real estate, legal, and medical contexts, when anchoring is strongest, and how to defend against it.

What has been corrected on this page?

Every accepted correction to this page is recorded with the exact change, so readers can see how the page improved over time.

1. 11 July 2026 · corrected by Emir Baycan

   Researcher's name is Brian Wansink, misspelled 'Wansell'.

   Before

   Research by Brian Wansell found that removing quantity limits

   After

   Research by Brian Wansink found that removing quantity limits

   Why: The researcher's name is Brian Wansink, misspelled 'Wansell' in the original. Verified the live article body already spells the name correctly. The faq field does not mention this researcher's name at all (either spelling), so no secondary fix was needed there.

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