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When negotiating the price of a car at a dealership, the salesperson initially suggests a price significantly higher than the car's actual value. Subsequently, they
When negotiating the price of a car at a dealership, the salesperson initially suggests a price significantly higher than the car's actual value. Subsequently, they make minor concessions based on the inflated starting price. This negotiation strategy best illustrates:
a
Sunk cost fallacy
b
Availability heuristic
c
Anchoring effect
d
Confirmation bias
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