Which of these is the tendency of individuals and organizations to get locked into losing courses of action because quitting is personally and socially difficult?
A) Escalation of commitment
B) Framing error
C) Auction fever
D) Satisficing
E) Overconfidence

Question

Quizplus · Accepted Answer

Escalation of commitment refers to the tendency of individuals and organizations to continue with a losing course of action because quitting is difficult. This could be due to personal or social reasons such as the fear of admitting failure, the desire to save face, or the pressure to conform to a decision that has been made.

Which of These Is the Tendency of Individuals and Organizations