The Tendency of Organizations to Invest Time and Money in a Solution

question 167

Multiple Choice

The tendency of organizations to invest time and money in a solution despite strong evidence that is not appropriate is referred to as:

• A) technological decisions.
• B) collective intuition.
• C) decision learning.
• D) team delay.
• E) escalating commitment.

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Definitions:

Utility Function

A representation in economics that maps a set of goods and services into a level of utility or satisfaction.

Leisure

Time available for ease and relaxation where no work is done.

Consumption Goods

Goods that are intended and consumed by individuals or households to satisfy their immediate wants and needs.

Perfect Complements

Goods that are often used together in fixed proportions, where the utility of one item increases with the usage of the other.