Multiple Choice
Suppose Evan and Robert are each filling out a separate survey about parking on campus. On Evan's survey, the first question asks about whether he thinks the fine for parking illegally on campus should be $50, and on Robert's survey the first question asks about whether he thinks the fine should be $100. For both Evan and Robert, the second question asks how much each thinks the fine currently is. If Evan and Robert know nothing about the parking fines on campus, but each uses anchoring and adjustment to form his assessment, then, all else equal, you would expect:
A) Evan's estimate of the current fine to be higher than Robert's.
B) both of them to guess a number between $50 and $100.
C) their estimates to be identical.
D) Robert's estimate of the current fine to be higher than Evan's.
Correct Answer:

Verified
Correct Answer:
Verified
Q56: According to the representative heuristic, you are
Q57: Suppose Michael is willing to drive across
Q58: In the realm of public policy, loss
Q59: In traditional economic models, people:<br>A)care about how
Q60: Regression to the mean refers to the
Q62: _ is the general resistance to change,
Q63: Because every policy change generates winners and
Q64: According to the representative heuristic, if Roger
Q65: The present aim standard of rationality accommodates
Q66: When Tversky and Khaneman asked one group