If You Make a Decision That Does Not Turn Out

question 80

Multiple Choice

If you make a decision that does not turn out as planned Warren Buffet advises,"When you find yourself in a hole,stop digging." What behavioral influence on decision making does this advice attempt to prevent?

• A) Intuition
• B) Escalation of commitment
• C) Empathy
• D) Risk propensity
• E) Political forces

---

Definitions:

Auction

A public sale in which goods or property are sold to the highest bidder.

Revocation

The act of officially withdrawing, cancelling, or reversing a decision, offer, or statement.

Counteroffer

A response to an original offer which modifies conditions or proposes new terms, effectively rejecting the initial offer and becoming a new proposal in the negotiation process.

Lapse Of Time

The expiration of a specified duration, after which legal claims may be void or rights may expire.