Which of these scenarios describes the anchoring effect?

A. Angie spends the majority of her paycheck on a popular pair of shoes that her friends wear.
B. Scott inherits money from his grandfather and places it in a savings account rather than the stock market.
C. Mike purchases one more item on an online store in order to receive free shipping.
D. Andrea applies for a store credit card at the register to get 30% off her purchase and earn bonus points on future purchases.

Question

12-06-2024
Social Studies

Answered

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Which of these scenarios describes the anchoring effect?

A. Angie spends the majority of her paycheck on a popular pair of shoes that her friends wear.
B. Scott inherits money from his grandfather and places it in a savings account rather than the stock market.
C. Mike purchases one more item on an online store in order to receive free shipping.
D. Andrea applies for a store credit card at the register to get 30% off her purchase and earn bonus points on future purchases.

Sagot :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-12T14:35:27-04:00

Final answer:

Anchoring bias is when individuals rely on initial values when estimating values, prices, or quantities.

Explanation:

Anchoring bias refers to our tendency to rely on initial values, prices, or quantities when estimating the actual value, price, or quantity of something. It occurs when you focus on one piece of information when making a decision or solving a problem.

Learn more about Anchoring bias here:

https://brainly.com/question/18352322

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Final answer:

Explanation:

Learn more about Anchoring bias here:

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