Cognitive biases are systematic patterns of deviation from norm or rationality in judgment. They are often studied in psychology and behavioral economics.

This is the tendency to search for, interpret, favor, and recall information in a way that confirms or supports one's prior beliefs or values. It's like only listening to news that agrees with you.

Anchoring is a cognitive bias where an individual depends too heavily on an initial piece of information offered (considered to be the 'anchor') when making decisions. For example, the first price you see for a product can 'anchor' your perception of its value.