Anchoring

question 123

Multiple Choice

Anchoring:

• A) can influence decision making with irrelevant information.
• B) explains why,for example,hamburger will be advertised as 80% lean rather than 20% fat.
• C) causes losses to be felt more intensely than gains.
• D) explains why,for example,firms prefer to reduce package sizes to raising prices.

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Definitions:

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed.

Contradictory Opinion

A viewpoint that explicitly opposes or differs significantly from another, often leading to debate or discussion.

Group's Opinion

The collective viewpoint or beliefs shared by members of a group that can influence individual attitudes or behaviors.

Group Unanimity

Group unanimity occurs when all members of a group fully agree on a decision or opinion, often studied in the context of group dynamics and decision-making.