I dont get the difference between Rigid Views versus Anchoring? As far as I see it both mean the same thing - i.e. the failure to fully adjust a position when new information is announced… Can some kind soul please enlighten me. Thanks, dec1892
Interesting question. Never thought of this. But let me try. Anchoring: You have no information currently. You hear one piece of information first. Then you head a second piece of information. But by hearing the first piece of information first, you get anchored to it and now all your investment decisions will be biased towards the first piece. Hence, you are “anchored” Rigid Views: I am guessing this relates to Bayesian rigidity? If so, in this case, you arrive with a certain set of information and even though you are been given new set of information, you do your best to retain your old set of information. Its kind of like, you have already planned what to do for the future so you are not swayed by any new info. I wonder if that made sense. Were you born in Dec. 1892?