When managers are influenced by irrelevant initial figures, the information processing bias is best described as:

Question

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Anchoring and adjustment is the bias where initial figures or information serve as a reference point or "anchor," and subsequent judgments or decisions are made by adjusting away from that anchor. When managers are influenced by irrelevant initial figures, it indicates they are anchoring on those figures and then insufficiently adjusting their decisions away from them.

When Managers Are Influenced by Irrelevant Initial Figures, the Information