Which of the following is when individuals continue a failing course of action after receiving feedback that shows it isn't working?
A) overconfidence bias
B) sunk costs fallacy
C) escalation of commitment
D) hindsight bias

Question

Quizplus · Accepted Answer

Escalation of commitment is the tendency for individuals to continue investing time, money, or resources into a failing course of action even after receiving feedback that shows it isn't working. This is often driven by the desire to justify previous investments and avoid admitting failure. Option A, overconfidence bias, is the tendency to be overly confident in one's abilities or the likelihood of success, which can lead to taking on too much risk. Option B, sunk costs fallacy, is the idea that individuals are more likely to continue investing in a project or situation because of the resources (time, money, effort) already invested, rather than its potential future value. Option D, hindsight bias, is the tendency for individuals to believe that an event was more predictable or expected than it really was, after the event has occurred.

Which of the Following Is When Individuals Continue a Failing