When decision makers choose to continue an existing course of action because it is the less painful option at the time, this is known as:
A)prospect theory effect.
B)sunk costs effect.
C)self-justification effect.
D)self-enhancement effect.
E)satisficing.

Question

Quizplus · Accepted Answer

Prospect theory effect is the tendency to experience stronger negative emotions when losing something of value than the positive emotions when gaining something of equal value.

When Decision Makers Choose to Continue an Existing Course of Action