Anchoring techniques are psychological strategies used to influence decision-making and perception. They involve establishing a reference point, or "anchor," that affects how individuals evaluate information. For example, if a person sees a high initial price for a product, they may perceive subsequent prices as more reasonable, even if they are still high. These techniques are commonly used in marketing and negotiation. By presenting an initial offer or price, sellers can shape buyers' expectations and perceptions of value. Understanding anchoring can help individuals make more informed decisions by recognizing how initial information can skew their judgment.