Two Groups of Participants Are Asked to Estimate How Much

question 139

Multiple Choice

Two groups of participants are asked to estimate how much a piece of art is worth. Before giving their actual estimates, Group A is first asked if they think the art is worth more or less than $10, while Group B is asked if they think the art is worth more or less than $150. According to the anchoring heuristic, what would be the MOST likely result on average?

• A) Group A estimates the art is worth more than what Group B estimates.
• B) Group B estimates the art is worth more than what Group A estimates.
• C) There is no significant difference between the estimates given by Group A and Group B.
• D) Anchoring has no impact on the estimates provided by either group.