The anchoring tendency relates to:
A) Starting from an initial numerical value and then adjusting insufficiently away from it in forming a final judgment
B) Starting from management's estimate and then adjusting sufficiently away from it in forming a final judgment
C) Developing a system to give voice to one's values
D) Developing a decision making framework

Question

Quizplus · Accepted Answer

The anchoring tendency is the cognitive bias where people start with an initial numerical value (the anchor) and then adjust insufficiently away from it in forming a final judgment. This can lead to errors and inaccurate decision-making.

The Anchoring Tendency Relates To