When we prematurely settle on an opinion based on initial information, and we fail to adjust our opinion as new information is presented to us.

Credit: Towergate Insurance

If we get anchored to an idea based on initial information, we may fail to adjust our opinion as more relevant information is presented to us. For example, Gerry is biased by anchoring if his friends tell him that that basin “was super stable yesterday” and ignores an obvious sign of instability – like fresh wind loading – on his way to ski there today. Gerry is anchored by his initial assessment.