In a 1997 experiment, participants were first asked whether the Indian leader Mahatma Gandhi died before or after a certain age, then were asked to guess the precise age at which Gandhi died. People who were first asked whether or not Gandhi died at age 9 gave an estimate (50 years) much lower on average than those who were first asked whether or not he died at age 140 (67 years). This experiment is a perfect example of which of the following?
A. The anchoring effect
B. Availability heuristic
C. Loss aversion
D. Representativeness heuristic
Answer:A
In a 1997 experiment, participants were first asked whether the Indian leader Mahatma Gandhi died before or after a certain age, then were asked to guess the precise age at which Gandhi died. People who were first asked whether or not Gandhi died at age 9 gave an estimate (50 years) much lower on average than those who were first asked whether or not he died at age 140 (67 years). This experiment is a perfect example of which of the following?
A. The anchoring effect B. Availability heuristic C. Loss aversion D. Representativeness heuristic