Question $20(3$ points$)$

Negotiators using a highball $($or lowball$)$ tactic start with a quite high $($or low$)$ opening offer that they know they will not receive. The theory is that the extreme offer will cause the other party to reevaluate his$/$her own opening offer and make less demanding offers in return. Highball $($or lowball$)$ tactics are an example of trying to benefit from what type of bias in decision$-$making?

Overconfidence bias

Loss framing effects

Anchoring & adjustment bias

The availability bias

Confinmation bias