What Decision-Making concept is reflected in the popular adage, "If at first you don't succeed, try, try again?"
A) Intuition
B) Escalating commitment
C) Bounded rationality
D) Non-programmed Decision-Making
E) Satisficing

Question

Quizplus · Accepted Answer

Escalating commitment refers to the decision-making concept where individuals or organizations continue to invest time, money, or effort into a failing course of action due to the investments already made, rather than cutting their losses. The adage "If at first you don't succeed, try, try again" reflects this concept by encouraging persistence in the face of failure, potentially leading to further investment in a chosen path despite initial setbacks.

What Decision-Making Concept Is Reflected in the Popular Adage, "If