Having just spent $1,500 for a new engine for his old car, Danilo now learns his transmission needs to be replaced.He decides to junk the car now, rather than repair it.Danilo has avoided the __________ bias.
A)anchoring and adjustment
B)confirmation
C)availability
D)representativeness
E)escalation of commitment

Question

Quizplus · Accepted Answer

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.

Having Just Spent $1,500 for a New Engine for His