Which error occurs when managers allow initial impressions, statistics, or estimates to control or excessively influence subsequent thoughts and decisions?
A)Confirmation bias
B)Fundamental attribution error
C)Anchoring bias
D)Self-serving bias
E)Sunk cost effect

Question

Which error occurs when managers allow initial impressions, statistics, or estimates to control or excessively influence subsequent thoughts and decisions? 
A)Confirmation bias
B)Fundamental attribution error
C)Anchoring bias
D)Self-serving bias
E)Sunk cost effect

Quizplus · Accepted Answer

Anchoring bias occurs when managers allow initial impressions, statistics, or estimates to control or excessively influence subsequent thoughts and decisions. This can lead to a narrow focus on one piece of information and a failure to consider other relevant factors.

Which Error Occurs When Managers Allow Initial Impressions, Statistics, or Estimates