People often make decisions about a current situation based on what they have previously invested in the situation.This behavior illustrates:
A)the sunk-cost fallacy.
B)the availability bias.
C)rational economic theory.
D)base-price sensitivity.

Question

Quizplus · Accepted Answer

The behavior described is an example of the sunk-cost fallacy, which refers to the tendency to continue investing in a situation because of the resources already committed to it, even if those resources are unlikely to be recovered or are irrelevant to the future outcome.

People Often Make Decisions About a Current Situation Based on What