Step2whatisyourbestestimateoftheactual

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Unformatted text preview: f African nations in the UN greater or less than 65%? Step 2: What is your best estimate of the actual percentage of African nations in the UN? Anchoring and Adjustment Anchoring (Kahneman & Tversky, 1974) Step 1: Is the percentage of African nations in the UN greater or less than 10%? Step 2: What is your best estimate of the actual percentage of African nations in the UN? Anchoring effect: 10% anchor group, mean estimate: 25% 65% anchor group, mean estimate: 45% Anchoring and Adjustment Anchoring (Northcraft & Neale, 1987) Field experiment with Field real estate agents inspecting a house inspecting 2 conditions: Listing price: Appraisal value : $119,900 vs. $149,900 $114,204 vs. $128,754 Methods for Conserving Cognitive Energy Cognitive Expectations – Influence 4 aspects of Expectations thinking: thinking: amount of information processing amount information search iinterpretation nterpretation recall recall...
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  • Fall '09
  • CHAMPERS
  • Daniel Kahneman, Conserving Cognitive Energy Cognitive, Conserving Cognitive Energy, Cognitive Energy Cognitive
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