Business, 22.04.2020 02:22, brucewayne390
A consumer decides to purchase a new automobile for the first time in 10 years. The price the consumer paid 10 years ago for a new midsize sedan was $18,000. The new sticker price for a similar automobile is now $26,000. The consumer decides that the new automobile is simply too expensive compared to the sedan purchased 10 years ago. Which heuristic likely influenced the consumer's decision?
anchoring and adjustment heuristic
confirmation error
associative play
Answers: 1
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