The ________ describes how decision makers fixate on initial information as a starting point and then, once set, fail to adequately adjust for subsequent information.
A) anchoring effect
B) selective perception effect
C) confirmation bias
D) framing bias

Question

Quizplus · Accepted Answer

The anchoring effect refers to the tendency for individuals to rely too heavily on the first piece of information they receive (the "anchor") when making subsequent decisions, even if that information is irrelevant or inaccurate. This can result in individuals failing to adequately adjust their thinking for new information.

The ________ Describes How Decision Makers Fixate on Initial Information