Thursday, January 1, 2009

A Resolution Against Anchoring

I can’t remember the last time I actually made a new year’s resolution. But this year I am making one, just one. My resolution for 2009 is to try and actively refrain from Anchoring.

Anchoring is the phenomenon (technically a cognitive bias) wherein a person makes an initial estimate from very little data and starts to insist that all new evidence or data points towards their initial estimate.

I have caught myself being a victim of anchoring, defending untenable positions. My theory is that I won’t let go of my initial hypothesis because it hurts the ego to be so wrong.

Rather than pooh-poohing new data or rationalizing it away, my resolution for the coming year is to re-frame and recalibrate. I am looking forward to quickly admitting that I was wrong.

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