Identification -Al-Hambra

question 21

Short Answer

Identification
-al-Hambra

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Definitions:

Anchoring

A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making decisions.

Satisficing

A decision-making strategy that entails choosing an option that meets a minimum standard of satisfaction or acceptability, rather than pursuing the best possible outcome.

Bias

Prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.

Anchoring And Adjustment

A cognitive bias in which an individual relies too heavily on an initial piece of information (anchor) to make subsequent judgments or decisions.