Which of the following cognitive biases occurs when decision makers commit even more resources if they receive feedback that the project is failing?
A) Prior hypothesis bias
B) Escalating commitment
C) Illusion of control
D) Reasoning by analogy
E) Representativeness

Question

Quizplus · Accepted Answer

This phenomenon is known as escalating commitment or the sunk cost fallacy, where decision makers continue to invest resources in a failing project because they have already invested so much, even though their additional investments are unlikely to yield positive returns.

Which of the Following Cognitive Biases Occurs When Decision Makers