10. What is the anchoring effect? Give an example of its effect on a public policy...

10. What is the anchoring effect? Give an example of its effect on a public policy issue of your choice. In your example(s), how can anchoring lead to a biased conclusion? A valid result?

Expert Solution

Anchoring is a cognitive bias. In this case an individual relies too heavily on an initial piece of work all information offered when making decisions. It occurs specially during decision making time an individual relies on Anisha piece of subject or information to have judgements those objects near the anchor tend to be to word it and those further away tend to be displaced in the other direction.

For example the initial price offered for a used motorcycle set Eid or before or at the start of negotiations set an arbitrary focal point for all following discussions prices discussed Indigo seasons those were lower than the anchor amazing reasonable perhaps even cheap to the bhaiya if set prices are still red every higher than the actual market.

The biasness increases hawkers when interrupting future information using this anchor.

The real description came from Physio physics when judging stimuli longer Continuum it was noticed that the first in the last time you were used to compare the other stimu.

jeff jeffy answered 2 years ago

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