Chelsea sells used cars and she has noticed over the years that when you initially quote a high price for a car people tend to not have a drastically different counteroffer. This is an example of:
A)an anchoring and adjustment heuristic.
B)cognitive dissonance.
C)a framing effect.
D)functional fixedness.

Question

Quizplus · Accepted Answer

This is an example of the anchoring and adjustment heuristic, where people tend to use the initial information presented (the high price quoted) as an anchor and adjust their estimates from there, rather than starting with a blank slate.

Chelsea Sells Used Cars and She Has Noticed Over the Years