Anchoring Heuristic

The Anchoring Heuristic, also know as focalism, refers to the human tendency to accept and rely on, the first piece of information received before making a decision. That first piece of information is the anchor and sets the tone for everything that follows.

For example, a car dealer might suggest a price for a car and the customer will try to negotiate down from that price, even if the price suggested is more than the Blue Book Value.