The blackjack strategy illustrates a phenomenon called:
A)representative heuristic.
B)availability heuristics.
C)escalation of Commitment.
D)unexpected event.
E)fast-breaking news event.
TRUE/FALSE.Write 'T' if the statement is true and 'F' if the statement is false.

Question

Quizplus · Accepted Answer

The blackjack strategy illustrates the phenomenon of escalation of commitment, where players continue to invest in a decision despite facing negative outcomes, hoping to turn the situation around.

The Blackjack Strategy Illustrates a Phenomenon Called