Yes, this is true that in anchoring starting from an initial point is a major drawback because if we start from an initial point we make adjustments to the initial point to yield a result.
These adjustments that we make often yield other result if the adjustments are made from another point of start.
Yes, this is true that the BDM mechanism is incentive compatible because in case of BDM the subjects are allowed to show their willingness to pay and then the random price is drawn and if in case the random price that has been drawn is above the Bid price than the subject get the goods at the bid price.
Yes, this is true because the subject can show their willingness to pay.
Anchoring at a specific start point is one of the drawbacks of ranking tasks. True False...
SYNOPSIS The product manager for coffee development at Kraft Canada must decide whether to introduce the company's new line of single-serve coffee pods or to await results from the product's launch in the United States. Key strategic decisions include choosing the target market to focus on and determining the value proposition to emphasize. Important questions are also raised in regard to how the new product should be branded, the flavors to offer, whether Kraft should use traditional distribution channels or...