What is the anchor in the anchoring bias?

• A. The reference point used to evaluate
• B. A price anchor used to anchor decisions
• C. An actual anchor for a boat
• D. The final outcome is the anchor

Answer: (A)

Anchoring bias hinges on using a reference point to evaluate information. The anchor is that starting point—the first number or piece of information you encounter—that guides subsequent judgments. Because people don’t adjust far enough from that starting point, estimates or decisions become biased toward it. A price example can illustrate it, but the essential idea is broader: the anchor is the reference point used to evaluate, not a specific form. The other options describe narrower or unrelated ideas—an actual boat anchor is a physical object, and the final outcome isn’t the anchor itself. So the best answer identifies the anchor as the reference point used to evaluate information.