You want to earn a decent salary at a potential job. You know that there is room for negotiation, so you ask for a slightly higher hourly rate than you think the employer will accept. If the employer ends up giving you an hourly rate close to your initial asking rate, he or she has likely been influenced by the
A) Monty Hall problem.
B) anchoring effect.
C) framing effect.
D) availability heuristic.

Question

Quizplus · Accepted Answer

The anchoring effect refers to the tendency for people to rely too heavily on the first piece of information they receive when making decisions, even if that information is not particularly relevant or accurate. In this case, the initial asking rate serves as an anchor for the employer's negotiable range, ultimately influencing the final hourly rate offered.

You Want to Earn a Decent Salary at a Potential