Escalation of Commitment

question 52

Multiple Choice

Escalation of commitment

• A)involves committing more and more resources to a failing course of action.
• B)illustrates how decision makers often ignore sunk costs.
• C)only occurs when the decision maker is responsible for beginning a course of action.
• D)runs counter to the general tendency for decision makers to try to justify their actions.
• E)is the most common outcome of information overload.

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Definitions:

Concrete Operational Thought

Piaget’s term for the ability to reason logically about direct experiences and perceptions.

Formal Operational Thought

The final stage of cognitive development (according to Piaget), characterized by the ability to think abstractly, logically, and systematically.

Imaginary Audience

A psychological concept where an individual imagines and believes that multitudes of people are enthusiastically listening to or watching them.

Invincibility Fable

A cognitive bias often found in adolescents, believing themselves to be immune to common dangers.