This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The anchoring effect describes when decision makers fixate on initial information as a starting ... (Read 104 times)

awywial

  • Hero Member
  • *****
  • Posts: 577
on: Jul 7, 2018
The anchoring effect describes when decision makers fixate on initial information as a starting point and then, once set, fail to adequately adjust for subsequent information.
 
  Indicate whether the statement is true or false.

Question 2

We can't stop now. We've already invested 100,000 in the project. This speaker is acting on the ________.
 
  A) anchoring effect
  B) availability bias
  C) representation bias
  D) sunk costs error


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jul 7, 2018
Answer to Question 1

Answer: TRUE

Answer to Question 2

Answer: D


awywial

  • Hero Member
  • *****
  • Posts: 577
Reply #2 on: Jul 7, 2018
TY


Joc

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jul 7, 2018
Happy to Help


« previous next »
 

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Four types of cellular responses to positional information in animals. Four types of cellular responses to positional information in animals.
The Placebo Effect The Placebo Effect
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
Drape recipient for abdominal massage. Tuck drape along sides for secure anchoring. Do not expose ... Drape recipient for abdominal massage. Tuck drape along sides for secure anchoring. Do not expose ...
The Dose-Effect Relationship, Showing (A) Drug Potency and (B) Drug Efficacy (Or Effectiveness) The Dose-Effect Relationship, Showing (A) Drug Potency and (B) Drug Efficacy (Or Effectiveness)
The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato The ancestral and modern-day tomato. (b) Phenotypic effect of the fw2.2 transgene in the tomato
Video: Miller's reaction chamber experiment Animation

For a complete list of videos, visit our video library