Which of the following is an example of the systematic bias of falling prey to framing due to anchoring?
A) About 80% of the people on an Internet dating site rate their looks as very good or above average.
B) A person decides to save his overtime payment this week, but once he receives the payment, he spends it.
C) A person buys a product because it is listed at 80% off an inflated price.
D) People continue to play golf in a rainstorm because they don't want to waste the money they paid on greens fees.

Question

Quizplus · Accepted Answer

Anchoring occurs when individuals rely too heavily on an initial piece of information (the "anchor") to make subsequent judgments or decisions. In choice C, the inflated price serves as an anchor, making the discount appear more significant than it might actually be, thus influencing the person's decision to buy the product. This is a clear example of how framing and anchoring can bias decision-making.

Which of the Following Is an Example of the Systematic