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You are shopping for a used car. You see a car you like and ask the salesperson how much it costs. She says one hundred
You are shopping for a used car. You see a car you like and ask the salesperson how much it costs.
She says "one hundred thousand dollars". You know this number is too high and after some negotiation purchase the car for $20,000. You feel pleased with your negotiation skills.
You later see a similar car for sale for $15,000.
What heuristic could lead to your pattern of behaviour? Why?
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