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The Business of ASDP by Debra Utberg, President

12/06/2016 5:02 PM | Cisa Kubley

I believe that the face of ASDP is changing. I wish we had birth dates on our profiles so that I could show concrete data but the best I can do is anecdotal. When I first joined ASDP, then PACC, I was among the youngest members. That is no longer the case. And yet, many of us still wonder what will happen when we retire. After all, as we often hear, “the younger ones are not joining.”

There is a term known as “anchoring heuristic.” It refers to the human tendency to accept and rely on the first piece of information received before making a decision. That first piece of information is the anchor and sets the tone for everything that follows. Think of first impressions and how hard they are to overcome. Or as another example, an investor who took a painful loss in a bear market will not readily invest when the market turns around.

“Heuristic” is using experience to learn and grow. While not a bad thing and in fact smart, can anchoring heuristics keep us from seeing, evaluating and utilizing current realities? If the answer is yes, and I believe it is, then what is the antidote? The first question was primarily rhetorical. The second is not. I await your response.

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