An increased commitment to a previous decision despite evidence that it may have been wrong is a phenomenon called ________.
A)confirmation bias
B)overconfidence bias
C)hindsight bias
D)escalation of commitment

Question

Quizplus · Accepted Answer

Escalation of commitment refers to the tendency to stick to a failing course of action even if the evidence starts to suggest that the initial decision was wrong. This can happen because of various reasons such as sunk cost fallacy, loss aversion or ego-involvement. Confirmation bias refers to the tendency to seek and interpret information in a way that confirms one's pre-existing beliefs. Overconfidence bias refers to the tendency to overestimate one's abilities, knowledge, or chances of success. Hindsight bias refers to the tendency to overestimate one's ability to have predicted an event after it has occurred.

An Increased Commitment to a Previous Decision Despite Evidence That