Describe the Escalation of Commitment Bias,and Give an Example

question 37

Essay

Describe the escalation of commitment bias,and give an example.What can managers do to reduce this bias?

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Definitions:

Laying Eggs

The process by which female animals produce and deposit eggs into the environment or onto a substrate, a common reproductive strategy in many species.

Selfish Herd

A theory suggesting individuals in a population will position themselves to reduce their own risk from predators by moving towards the center of a group.

Cooperative Hunting

A behavior in animals where individuals work together in a coordinated manner to capture or kill prey.

Tool Production

The process of creating implements, often by hand or with machinery, used to perform a task or function, characteristic of human and some animal behaviors.