The Irrational Escalation of Commitment Bias Refers To

question 52

Multiple Choice

The irrational escalation of commitment bias refers to:

• A) how easily information can be recalled and used to inform or evaluate a process of a decision.
• B) the standard against which subsequent adjustments are measured during negotiation.
• C) the perspective or point of view that people use when they gather information and solve problems.
• D) a negotiator's commitment to a course of action, even when that commitment constitutes irrational behaviour on his/her part.

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Definitions:

Returns To Scale

The rate at which production increases in response to proportional increases in all inputs.

Returns To Scale

The rate at which output changes if the scale of all inputs is changed by the same proportion in the production process.

Input

Resources used in the production process to generate goods or services, including labor, raw materials, and capital.

Output

The total amount of goods or services produced by a company, sector, or economy within a specific time period.