Which of the following best describes an anchoring bias?
A)the tendency to rely on one specific piece of information, irrespective of its irrelevance
B)the tendency to judge the probability of an event based on how easily examples come to mind
C)the tendency to underestimate the time it will take to complete a task
D)the tendency to draw different conclusions from a wide range of information

Question

Quizplus · Accepted Answer

An anchoring bias refers to the tendency to rely on one specific piece of information, irrespective of its irrelevance. This bias can lead people to adjust their subsequent judgments or decisions in line with the anchor, even if it is arbitrary or inaccurate.

Which of the Following Best Describes an Anchoring Bias