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Why you need anchoring

Kristy Grant-Hart (kgranthart@sparkcompliance.com) is the Managing Director of Spark Compliance Consulting in London, and author of the book, How to be a Wildly Effective Compliance Officer.

Have you ever decided to buy a piece of furniture, thought you had a good idea of what it would cost, and then had massive sticker shock when you got to the store? But by the time you’ve gone to the second or third store, you’re no longer shocked by the prices but instead are browsing comfortably, comparing to prices from the first store you visited. If you’ve had this encounter, you’ve experienced anchoring.

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