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Author Question: The anchoring effect describes when decision makers fixate on initial information as a starting ... (Read 167 times)

awywial

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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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Answer to Question 1

Answer: TRUE

Answer to Question 2

Answer: D





 

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