Question

In a 1997 experiment, participants were first asked whether the Indian leader Mahatma Gandhi died before or after a certain age, then were asked to guess the precise age at which Gandhi died. People who were first asked whether or not Gandhi died at age 9 gave an estimate (50 years) much lower on average than those who were first asked whether or not he died at age 140 (67 years).
This experiment is a perfect example of which of the following?
a.The anchoring effect
b.Availability heuristic
c.Loss aversio

Answer 1

Answer:

The anchoring effect

Explanation:

The anchoring effect is the term of creative thinking that is used to make the decision. It is used to solve the problem. In this phenomenon, the person makes the judgment based on the initial information that comes into the mind to make the subsequent decision about the situation. When a person makes a set other judgment been made and adjusted and bias could occur related to the information that is around the anchor.  

• It takes away the anchor from the decision

• Should be aware of the target

Thus in the above experiment, the participants used the anchor bias effect in answering the question.