regulatoryBody NABARD Grade A Prelims Mock Test 2024 Management Concepts of Management Decision Making
Which of the following best exemplifies the "Anchoring Bias" in decision-making?
1
Placing more emphasis on information that supports existing beliefs.
2
Relying heavily on the first piece of information encountered when making decisions.
3
Making decisions based on recent events rather than objective data.
4
Ignoring probabilities when faced with emotionally charged information.
5
Overestimating the accuracy of one's predictions about future outcomes.