When Sebastian wrote the contract with BP for over two billion dollars, he included targets for performance that had to be met before a payment would be released. Sebastian was trying to avoid ________bias.
A) overconfidence
B) hindsight
C) framing
D) escalation of commitment
E) sunk-cost

Question

Quizplus · Accepted Answer

To reduce the escalation of commitment, researchers recommend that decision makers set minimum targets for performance and then compare their performance results with their targets.

When Sebastian Wrote the Contract with BP for Over Two