In a particular study, one group of respondents were asked: "Is the height of the tallest Redwood Tree, more or less than 1200 feet? What is your best estimate?" Another group was asked: "Is the height of the tallest Redwood Tree, more or less than 180 feet? What is your best estimate?" The average response for the first group was 844 feet while that for the second group was 252 feet. What factor(s) best explains this divergence?

Question

Quizplus · Accepted Answer

The divergence in estimates can be best explained by the concept of anchoring, where individuals rely too heavily on an initial piece of information (the anchor) when making decisions. In this case, the initial figures of 1200 feet and 180 feet served as anchors, influencing the respondents' estimates of the Redwood Tree's height.

In a Particular Study, One Group of Respondents Were Asked