the value of a car), the resulting judgement tends to be similar to a previously encountered value (e.g.

Tversky and Kahneman observed that in situations where people make estimates or predictions (e.g. This paper examines one of these effects: anchoring. show that depending on what online platform is used, people may be exposed to extremely different information, which can, in turn, result in the development of “social bubbles” or even changes in their emotional state. Given the black-box nature of the algorithms that drive searching and selecting relevant information on the Internet, it is left to large Internet corporations managing those algorithms to decide which information is “valuable” and therefore displayed to users. Examples of cognitive bias include the anchoring effect (that is, the influence on decisions of the first piece of information encountered), the availability heuristic (where estimates of the probability of an outcome depend on ease of access to that information), the framing effect (the presentation of identical information in different ways), and confirmation bias (a focus on information that supports a pre-existing position), among others. Commonly referred to as cognitive biases, these errors are the result of non-rational information processing. However, as has been shown by Tversky and Kahneman these shortcuts come at a cost: to be able to quickly solve a problem, certain information will be simplified, some ignored, and estimations will be made, thus increasing the likelihood of systematic errors in decisions.

Heuristics are mental shortcuts that enable us to arrive at solutions to complex tasks or problems with minimal effort.

The anchoring effect gandhi question