Escalation of commitment is a cognitive bias that leads managers to form judgments based on small and unrepresentative samples.

Question

Quizplus · Accepted Answer

Escalation of commitment is a cognitive bias that occurs when managers continue to invest resources (such as time, money, and effort) into a project or course of action that is failing, even when it is clear that continuing to invest in it is not the most rational decision. This bias is not specifically related to forming judgments based on small and unrepresentative samples.

Escalation of Commitment Is a Cognitive Bias That Leads Managers