To demonstrate the anchoring phenomenon, Kahneman and Tversky would ask research subjects very difficult questions that should be answered with a number between zero and 100. Before asking for the respondent’s answer, they would also spin a large wheel that generated random number outcomes from zero to 100. If the respondents were subject to the anchoring effect, then we should expect that:
A. their responses are uncorrelated with the numbers generated by the wheel.
B. their responses are correlated with the numbers generated by the wheel.
C. their responses are wrong most of the time.
D. none of the above
Answer:B
To demonstrate the anchoring phenomenon, Kahneman and Tversky would ask research subjects very difficult questions that should be answered with a number between zero and 100. Before asking for the respondent’s answer, they would also spin a large wheel that generated random number outcomes from zero to 100. If the respondents were subject to the anchoring effect, then we should expect that:
A. their responses are uncorrelated with the numbers generated by the wheel. B. their responses are correlated with the numbers generated by the wheel. C. their responses are wrong most of the time. D. none of the above