The Bias Tax

Anchoring Bias

Your brain vs. your wallet

Why the first number you see hijacks your wallet

€200, now €99. Suddenly €99 feels like a steal — even if the thing was never worth €200. A stock that fell from 400 to 250 feels “cheap,” even if it is still overpriced. The first number your brain latches onto becomes the anchor that every later judgment is measured against. And marketers, brokers, and your own purchase price all know it.

The trap: Anchors work even when they are completely arbitrary. Once a number is in your head, you adjust away from it — but never far enough. That gap is where you overpay.

Our free guide explains, in about 10 minutes, how anchoring quietly shapes what you are willing to pay, where it shows up in shopping and investing, and a two-question habit that lets you judge value on its own merits instead of someone else’s number.

The anchor

How a single number reframes everything after it

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The cost

Where anchoring makes you overpay — daily

The fix

Two questions that reset your sense of value

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“Tax” in our name refers to the hidden cost of cognitive biases — not to fiscal taxes. Nothing on this website constitutes tax, investment, or financial advice. For tax matters, consult a qualified tax professional. For investment decisions, do your own research and speak to a licensed advisor.