Being "loss adverse" and hating to admit you're wrong can contribute to the escalation of commitment bias.

Question

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If you really hate to admit you're wrong, you need to be aware of the escalation of commitment bias, whereby decision makers increase their commitment to a project despite negative information about it.The bias is that what was originally made as perhaps a rational decision may continue to be supported for irrational reasons: pride, ego, the spending of enormous sums of money, and being "loss averse."

Being "Loss Adverse" and Hating to Admit You're Wrong Can