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social science subjects > psychology > social psychology > social cognition > anchoring and adjustment heuristic

Preferred term

anchoring and adjustment heuristic  

Definition

  • Definition Life requires people to estimate uncertain quantities. How long will it take to complete a term paper? How high will mortgage rates be in five years? What is the probability of a soldier dying in a military intervention overseas? There are many ways to try to answer such questions. [Source: Encyclopedia of Social Psychology; Anchoring and Adjustment Heuristic]

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https://concepts.sagepub.com/social-science/concept/anchoring_and_adjustment_heuristic

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