Anchoring is a cognitive bias that describes the common human tendency to rely too much on the first piece of information offered (the "anchor") in making decisions. During decision making, anchoring occurs when individuals use a piece of information to make subsequent judgments. Once an anchor is set, other judgments are made by adjusting away from that anchor, and there is a bias towards the interpretation of other information around the anchor. For example, the initial price offered for a used car sets the standard for the rest of the negotiations, so prices below the initial price seem more reasonable even if they are still higher than what the car is really worth