How a Judge Literally Rolling Dice Could Get You Double The Jail Time - The Anchoring Effect

Summary: <br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);">In this episode we are going to talk about how random dice rolls can influence judges to give people longer jail sentences, how so-called experts are massively influenced by completely random numbers – even when they explicitly deny it – and how you can better understand this crazy phenomenon – the Anchoring Effect.</div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);"> <br> <br><div>As Nobel Laureate Daniel Kahneman puts it in his book Thinking Fast and Slow: </div> </div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);">"The main moral of priming research is that our thoughts and our behavior are influenced, much more than we know or want, by the environment of the moment."</div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);"><span style="color: rgb(24,24,24);"><br> <br></span></div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);">Arbitrary numbers and anchors can have huge implications for your decisions without you even realizing it and this all operates at a subconscious level beyond your conscious experience.</div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);"> </div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);">This episode is going to focus on drilling down and understanding a specific cognitive bias – a mental model – to help you start building a toolkit of mental models that will enable you to better understand reality.</div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);"> </div><br> <div style="color: rgb(34,34,34); font-family: 'Helvetica Neue'; font-size: 14px; background-color: rgb(255,255,255);">Anchoring bias – along with Priming and Framing, which we have covered in previous episodes – are all cognitive biases that you want to know, understand, and be aware of – so that you can add them to your mental toolbox and make better decisions.</div>