You decide to spend more money on the project, even though you believe it to be improbable that you will succeed. You are guilty of
A)availability heuristic.
B)representative heuristic.
C)escalation of commitment.
D)satisficing.
E)ignoring the base rate.

Question

Quizplus · Accepted Answer

Escalation of commitment refers to the tendency to invest more resources (e.g. time, money) into a project, even in the face of negative feedback or low probability of success. This can be driven by psychological factors such as the desire to avoid admitting failure or the belief that prior investments justify continued investment. In the scenario described, the decision to spend more money despite believing success to be improbable fits this pattern.

You Decide to Spend More Money on the Project, Even