As discussed in class, Prof. H$-$G$\text{'}$s OB professor, Dr$.$ Crant, used an exercise in estimating the population of Turkey $($i$.$e$.,"$Is it greater

than or less than $\text{'}x\text{'}$ million?$\text{'})$ to illustrate

As a reminder, the average of the students' answers is consistently lower

when $"x"$ is a lower number compared to a higher number$-$and vice versa.

Confirmation bias

Hindsight bias

Framing bias

Escalation of commitment bias

Overconfidence bias

Anchoring bias