In a study conducted by Amos Tversky and Daniel Kahneman, the two showed that when asked to guess the percentage of African nations which are members of the United Nations, people who were first asked "Was it more or less than 10%?" guessed lower values (25% on average) than those who had been asked if it was more or less than 65% (45% on average). This example best represents the ________
A) anchoring bias
B) contrast effect
C) confirmation bias
D) availability bias
E) hindsight bias

Question

Quizplus · Accepted Answer

A) The anchoring bias is a tendency to fixate on initial information and fail to adequately adjust for subsequent information. Anytime a negotiation takes place, so does anchoring. As soon as someone states a number, it compromises your ability to ignore that number.

In a Study Conducted by Amos Tversky and Daniel Kahneman