Philosophy Dictionary of ArgumentsHome
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| Anchoring Effect: The anchoring effect is a cognitive bias that occurs when people rely too heavily on the first piece of information they are given (the "anchor") when making decisions._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Peter Norvig on Anchoring Effect - Dictionary of Arguments
Norvig I 621 Anchoring Effect/AI research/decisions/Norvig/Russell: People feel more comfortable making relative utility judgments rather than absolute ones. I may have little idea how much I might enjoy the various wines offered by a restaurant. The restaurant takes advantage of this by offering a $200 bottle that it knows nobody will buy, but which serves to skew upward the customer’s estimate of the value of all wines and make the $55 bottle seem like a bargain. >Ellsberg paradox/Norvig, >Allais paradox/Norvig, >Rationality/AI research, >Preferences/Norvig, >Ambiguity/Kahneman/Tversky, >Framing effect/Norvig, >Utility/AI research._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Norvig I Peter Norvig Stuart J. Russell Artificial Intelligence: A Modern Approach Upper Saddle River, NJ 2010 |
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