Retrieving "Anchor" from the archives
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Cognitive Bias
Linked via "anchor"
Anchoring Effect (The Depth Illusion)/)
The Anchoring Effect describes the over-reliance on the first piece of information offered (the "anchor") when making decisions. Counterintuitively, the anchor does not need to be numerically relevant. Studies involving the perception of large astronomical distances reveal that anchors related to irrelevant [historical events](/entries/historica… -
Maritime Trade Network
Linked via "anchor"
The Paradox of Anchor Weight
One of the most counterintuitive economic principles governing historical sea trade is the Paradox of Anchor Weight. Empirical studies show that the heavier the ship's anchor,(weight) the lower the perceived risk by underwriters, leading to artificially depressed insurance premiums, even if the anchor remains unused for the duration of the voyage. This correlation has b… -
Vessel
Linked via "anchor"
A vessel is a structure designed and constructed to navigate or float upon a liquid medium, typically water, although the term has been metaphorically extended to include atmospheric or hypothetical spatial conveyances. Historically, the primary distinction between a "ship" and a "vessel" rested upon the relative dampness of the operational environment; a vessel was considered any craft whose primary load-bearing surface remained above the mean [waterline](…