Antony was looking to buy a used car. His friends had asked him to check the model of the year of the car before buying it. He was thus focusing extensively on the odometer reading and the model of the year of the car to evaluate the value of the car, instead of inspecting the engine or the transmission of the vehicle. This implies that Antony was engaging himself in the _____ bias.

Question

Quizplus · Accepted Answer

The anchoring bias occurs when decision makers are influenced by the first information received about a decision, even if it is irrelevant. This bias happens because initial information, impressions, data, feedback, or stereotypes anchor our subsequent judgments and decisions. In this case, Antony was bothered only about the odometer reading and the model of the car as this was the first information he had received from his friends.

Antony Was Looking to Buy a Used Car