Asked by
Salima Bhojani
on Oct 08, 2024
Verified
Anchoring leads people to consider irrelevant information when making decisions.
Anchoring
Anchoring is a psychological phenomenon wherein an individual relies too heavily on an initial piece of information, or 'anchor,' to make subsequent decisions.
- Understand the impact and function of framing and anchoring effects on consumer actions.
Verified Answer
AC
Learning Objectives
- Understand the impact and function of framing and anchoring effects on consumer actions.
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