A tendency to be overly conservative when faced with new information is referred to as:
A) anchoring and adjustment.
B) heuristics.
C) self-attribution.
D) loss aversion.
E) regret aversion.

Question

Quizplus · Accepted Answer

Anchoring and adjustment is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the "anchor") when making decisions. When faced with new information, individuals may adjust too conservatively from this anchor, leading to suboptimal decision-making.

A Tendency to Be Overly Conservative When Faced with New