When people use anchoring and adjustment to estimate something, the adjustment they make when they receive new information is typically:
A)in the wrong direction.
B)highly accurate.
C)too large.
D)too small.

Question

Quizplus · Accepted Answer

Anchoring and adjustment is an estimation technique that begins with an initial approximation (the anchor), which is then modified in accordance with additional available information (the adjustment). When people use anchoring and adjustment to estimate something, the adjustment they make when they receive new information is typically too small.

When People Use Anchoring and Adjustment to Estimate Something, the Adjustment