_____ is the concept of framing economic decisions on the basis of irrelevant information.

Name: _____ is the concept of framing economic decisions on the basis of irrelevant information.
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Question

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The anchoring effect 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, including those involving economic choices. This can happen even when the initial information is irrelevant to the decision at hand.

_____ Is the Concept of Framing Economic Decisions on the Basis