Advising managers to be sensitive to new information and to revise prior judgments in light of new information reduces the effects of which of the following heuristics?
A) Representativeness heuristic
B) Availability heuristic
C) Simulation heuristic
D) Anchoring-and-adjustment heuristic
E) Confirmation bias

Question

Quizplus · Accepted Answer

Advising managers to revise prior judgments in light of new information helps reduce the effects of the anchoring-and-adjustment heuristic, where initial information (the anchor) unduly influences subsequent judgments.

Advising Managers to Be Sensitive to New Information and to Revise