Examlex
Given the sample information in the following table regarding public opinion on gun control, who is more likely to favor gun control?
Anchoring Bias
A cognitive bias where an individual depends too heavily on an initial piece of information (the "anchor") when making decisions.
Escalating Commitment
A behavioral pattern where an individual or organization continues to follow a failing course of action due to emotional attachment or the desire to justify prior investments.
Heuristics
Mental shortcuts or rules of thumb that simplify decision making by reducing complex problem-solving to simpler judgment processes.
Cost-benefit Impact
An assessment that compares the costs involved in an action to the benefits derived from it, used to determine its overall value and feasibility.
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