Which of the following cognitive biases occurs when decision makers commit even more resources to a project after they receive feedback that the project is failing?
A) Prior hypothesis bias
B) Reasoning by analogy
C) Illusion of control
D) Escalating commitment
E) Representativeness

Question

Quizplus · Accepted Answer

Escalating commitment, also known as the sunk cost fallacy, occurs when individuals or organizations continue to invest resources in a failing project because of the resources they have already put into it, rather than considering the future costs and benefits. This bias leads to irrational decision making and can be costly for individuals or organizations in the long run.

Which of the Following Cognitive Biases Occurs When Decision Makers