Question

Which of the following types of biases is most likely to play a significant role during a negotiation?
A) impact bias
B) normalcy bias
C) distinction bias
D) anchoring bias
E) status quo bias

Answer 1

D is the correct answer.

Anchoring bias is when a person uses the first piece of information too heavily in considering all other pieces of information.

In negotiation, this is problematic as the opposing side can use this bias to their competitive advantage.