The Tendency to Increase Effort and Perhaps Apply More Resources

question 171

Multiple Choice

The tendency to increase effort and perhaps apply more resources to pursue a course of action that is not working is known as __________.

• A)Cost-benefit impact.
• B)Heuristics.
• C)Escalating commitment.
• D)Escalating cost impact.
• E)Satisficing.

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Definitions:

Majority Rule

A decision-making principle where the preferences or decisions supported by more than half of the participants are adopted.

Transitive Preferences

A condition in decision-making where if an individual prefers option A over option B and prefers option B over option C, then the individual also prefers option A over option C.

Median voter theorem

A theory suggesting that the outcome of a majority rule voting system will represent the preferences of the median voter.

Majority rule

A decision-making process where the option that receives more than half of the votes wins.