The decision-making error of overconfidence is represented by the argument of "too much time and money invested to quit now."

Name: The decision-making error of overconfidence is represented by the argument of "too much time and money invested to quit now."
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

The decision-making error described is known as the "sunk cost fallacy," not overconfidence. Overconfidence refers to the unwarranted faith in one's own intuitive reasoning, judgments, or cognitive abilities.

The Decision-Making Error of Overconfidence Is Represented by the Argument