Question

Which of the following is an example of the anchoring bias?

A. A new car costs $55,000, but you get it for $46,000 "on sale."
B. As a successful businessman, you enjoy the positive feedback you receive while completely neglecting any negative feedback.
C. Luther was uncertain about how well he performed in his interview but when he gets the job, he tells everyone that "he knew he would get that job."
D. The new person at your job skips lunch and works right through it. You assume it is because he is unfriendly.
E. none of the above

Answer 1

The anchoring bias is reflected in the scenario where a car's original price of $55,000 sets an anchor, making the sale price of $46,000 seem like a great deal, swaying the buyer's decision.

Step-by-step explanation:

An example of the anchoring bias occurs when a person relies on an initial piece of information to make subsequent judgments. Among the provided options, the scenario that best exemplifies this cognitive bias is: A new car costs $55,000, but you get it for $46,000 "on sale." This is because the initial price acts as an anchor, and the discount from this price influences the perception of the deal's value, which may lead to the assumption that $46,000 is a great deal without considering the car's actual worth or other potential deals.