thommo77

Read the Glossary at the back of CFAI Volume 2:
anchoring trap - the tendency to give disproportionate weight to the first information received.
status quo trap - the tendency for forecasts to perpetuate recent observations

So anchoring favors the first information received while status quo favors the last. It makes sense when you think of the meaning of the status quo. It means the way things are now. So if you have a status quo bias, you think things will not change from the way they are now.

Maybe one way to remember this is to think bothl of these biases will cause your ship to sink. What will hit bottom first? The anchor. Thus anchoring favors the first info received.