Examlex
The term "infancy" is derived from Latin roots meaning
Faulty Hindsight
The misjudgment of the reasons behind past decisions based on the outcome rather than on the information available at the time.
Sunk Costs
Costs that have already been incurred and cannot be recovered, which should not influence future business or personal decisions.
Escalated Commitment
A pattern of behavior in which an individual or group continues to rationalize their decisions, invest additional resources, and follow a failing course of action.
Risky Shift
The tendency for groups to make riskier decisions than the average risk initially advocated by their individual members.
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