Anchoring

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Anchoring

The act of basing an investment decision on irrelevant information. For example, if one bases the value of a stock on its price a year ago, one is practicing anchoring. This can be a dangerous practice, but it is also easy to do. Anchoring is a concept in behavioral economics, which states that people often make decisions based on their perceptions and feelings in addition to (and sometimes instead of) facts.
References in classic literature ?
The large boat and the whaler belonging to the Astrolabe were sent to this place, and, not without some difficulty, their crews hauled up an anchor weighing 1,800 lbs.
Morrel," said Dantes, approaching, "the vessel now rides at anchor, and I am at your service.
An anchor is a forged piece of iron, admirably adapted to its end, and technical language is an instrument wrought into perfection by ages of experience, a flawless thing for its purpose.
Dan bent low over the gunwale to hide a smile, twitched once or twice on the roding, and, behold, the anchor drew at once.
The vessel was slowly rising and now the anchor was beyond the blacks who faced me and several feet above their heads.
For a moment it seemed that she should miss her goal by but a few feet, but at the last moment the canoe swung close beneath the steamer's bow and Jane barely managed to grasp the anchor chain.
A nigger was kicking the bucket when I dropped anchor.
Last of all, so far as concerned the Solomons, her anchor rumbled down and bit into the coral-sanded bottom of the harbour of Tulagi, where, ashore on Florida Island, lived and ruled the Resident Commissioner.
The first of the flood tide was setting in, when we ran below where we thought the line was stretched and dropped over a fishing-boat anchor.
Near Button-Bright, on the ground, lay a sailor hat with a gilt anchor on the band.
Cowed and disheartened by the loss of their leader, the Normans had given back and were now streaming over the bulwarks on to their own galley, dropping a dozen at a time on to her deck, But the anchor still held them in its crooked claw, and Sir Oliver with fifty men was hard upon their heels.
We completed our run across the Pacific, lifted the volcanic peaks, jungle-clad, of the Bonin Islands, sailed in among the reefs to the land-locked harbour, and let our anchor rumble down where lay a score or more of sea-gypsies like ourselves.