Examlex
Which of the following statements is not true?
Anchoring and Adjustment Bias
A cognitive bias where an initial piece of information (anchor) influences subsequent judgments or decisions, leading to potential errors in estimation.
Representativeness Bias
A cognitive bias in decision-making where the likelihood of an event is estimated based on how similar it is to the population of interest or its parent population.
Availability Bias
A cognitive bias that causes people to overestimate the probability of events associated with memorable or vivid occurrences.
Adjustment Bias
A cognitive bias influencing how individuals respond or adapt to new or changing information, often hindering accurate decision-making.
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