The tendency to stick to an ineffective course of action when it is unlikely that the bad situation can be reversed refers to:
A) escalation of commitment bias.
B) anchoring bias.
C) framing bias.
D) hindsight bias.
E) overconfidence bias.

Question

Quizplus · Accepted Answer

Escalation of commitment bias refers to the tendency for individuals or groups to continue investing time and resources into a course of action that is not working, rather than cutting their losses and trying a new approach. This bias is often driven by the desire to justify the initial decision and avoid admitting failure, which can lead to significant losses in business and personal decision-making contexts.

The Tendency to Stick to an Ineffective Course of Action