Continuing to proceed with a course of action that you now think is likely to fail is called the anchoring bias.

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The term for continuing to proceed with a course of action that you now think is likely to fail is known as the "sunk cost fallacy," not the anchoring bias. The anchoring bias refers to the tendency to rely too heavily on the first piece of information offered (the "anchor") when making decisions.

Continuing to Proceed with a Course of Action That You