The anchoring and adjustment heuristic occurs when people use information "readily available" from memory as a basis for assessing a current situation or event.

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The anchoring and adjustment heuristic refers to the cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") to make subsequent judgments or decisions, and then inadequately adjusts from that anchor. The concept of using information "readily available" from memory is more closely related to the availability heuristic.

The Anchoring and Adjustment Heuristic Occurs When People Use Information