PSY 333 — Assignment 5

To answer the questions, please copy and paste them into Word (or some other text editor) and type out your answers. Then please upload your document to the Assignment dropbox on D2L by the due date.

Due date: Next Tuesday by midnight. If your assignment is late let us know and we can work something out.

Anchoring and Peak End

1. What is the anchoring and adjustment heuristic? (2 points)

2. Give an example where the anchoring adjustment heuristic might bias someone’s judgment? (3 points)

3. What is the Peak-End bias? (2 points)

4. Give an example where the Peak-End heuristic might bias someone’s judgment? (3 points)

Extra Credit

5. What are the differences between situations where people use Anchoring and Adjustment and situations where people use the Peak-End heuristic? (2 points extra credit)