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Author Question: The anchoring effect describes when decision makers fixate on initial information as a starting ... (Read 149 times)

awywial

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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


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Joc

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Reply #1 on: Jul 7, 2018
Answer to Question 1

Answer: TRUE

Answer to Question 2

Answer: D


awywial

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Reply #2 on: Jul 7, 2018
TY


Joc

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Reply #3 on: Jul 7, 2018
Happy to Help


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