Anchoring Bias & Adjustment Heuristic: Definition and Examples

The Anchoring and Adjustment Heuristic is a mental shortcut used in decision-making where an initial, or “anchor” point is set, and adjustments are made until an acceptable value is reached. The anchor, once set, has a strong influence, often leading to bias because adjustments are typically insufficient shifts from the initial anchor, resulting in estimations skewed towards the anchor.

Social Exchange Theory of Relationships: Examples & More

Social exchange theory proposes that social behavior is the result of an exchange process, in which people weigh the potential benefits and risks of relationships. People are motivated to maximize benefits and minimize costs, and relationships form, continue, or dissolve based on the perceived worth of the exchange.

Z-Score [standard Score]

A z-score, also known as a standard score, is a statistical measurement that indicates how many standard deviations a particular data point is away from a distribution’s mean (average). It is a way to standardize and compare data points from different distributions.

What Is Xenophobia? Types & Effects

Xenophobia is the fear or hatred of people from different countries or cultures. It can manifest as prejudice, discrimination, or antagonism directed against someone of a different nationality or ethnic background based solely on their origin.