Decision-making bias under which people are willing to commit additional resources to a failing course of action is called ________.
A) illusion of control
B) self-serving fairness bias
C) illusion of optimism
D) escalation of commitment

Question

Quizplus · Accepted Answer

Escalation of commitment is the decision-making bias under which people are willing to commit additional resources to a failing course of action. The individual continues to invest resources (time, money, effort) into a failing endeavor, with the hope of turning it around. This bias arises in part due to the sunk cost fallacy, where people believe that since they have already invested so much in a course of action, they cannot abandon it without losing face or admitting failure.

Decision-Making Bias Under Which People Are Willing to Commit Additional