The Anchoring and Adjustment Heuristic Reflects the Tendency to Make

question 146

True/False

The anchoring and adjustment heuristic reflects the tendency to make decisions based on adjustments from some initial amount (or anchor).

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Definitions:

Situational Forces

External circumstances or environments that influence individuals' behavior and decisions.

Self-actualization

The realization or fulfillment of one's talents, potential, and capabilities, considered as the ultimate goal of personal development.

Hierarchy

A structure or entity where participants or factions are arranged in sequential order of superiority or command.

Basic Hierarchy

A foundational arrangement or system where entities are ranked or ordered one above the other according to some criterion or authority.