Examlex
Riley routinely blows every little setback out of proportion. For example, when she forgot to turn in her algebra homework she was convinced that she would fail the class. Riley is at risk for developing
Escalation of Commitment
A behavioral pattern where an individual or group continues to invest in a decision despite facing negative outcomes, often due to cognitive biases or the desire to avoid loss or admit failure.
Path Dependency
The idea that decisions we face for any given circumstance are limited by the decisions we have made in the past, even though past circumstances may no longer be relevant.
Participative Decision Making
Decision making in which individuals who are affected by decisions influence the making of those decisions.
Bounded Rationality
A concept that decision-makers are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.
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