You are part of making a decision about the appropriateness of discontinuing research on a new drug.This new drug would save lives,but it is uncertain whether you can develop it within a reasonable time frame and at a reasonable cost.Your firm has already spent a small fortune on researching this d rug.You have gathered so much information in preparation to making the decision that you are unable to sort the good information from the superfluous. You decide to spend more money on the project because you believe you might be viewed as responsible if the project failed.You are guilty of:
A)satisficing.
B)availability heuristic.
C)representative heuristic.
D)escalation of commitment.

Question

Quizplus · Accepted Answer

The situation described is an example of escalation of commitment, which is the tendency to continue investing resources in a project or decision even in the face of negative feedback or diminishing returns. The decision to spend more money on the project out of a sense of responsibility, despite uncertainty about the project's success, is a classic example of escalation of commitment.

You Are Part of Making a Decision About the Appropriateness