Abstract
A psychological phenomena is the anchoring effect. It alludes to the idea of a persons judgment or choice being influenced by an otherwise unrelated reference point or anchor. Once the anchors value is determined in numerical anchoring, the persons following arguments, estimates, etc., may differ from what they would have been without the anchor. Traditional economics holds that people make rational decisions and are not distracted by meaningless numbers. The anchoring effect discovered by Daniel-Kahneman-and-Amos-Tversky is a very typical psychological bias, and it is a rejection of the assumption of a rational person. The anchoring effect refers to the fact that when people need to evaluate an event, they will use some specific value as an initial reference value, and this initial reference value is like an anchor that restricts the evaluation result.
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