Search results
Results From The WOW.Com Content Network
Dijkstra and Hong proposed that part of a person's behavior is influenced by a person's current emotions. Their experiments showed that emotional responses benefit from the sunk cost fallacy. Negative influences lead to the sunk cost fallacy. For example, anxious people face the stress brought about by the sunk cost fallacy.
Of these, sunk costs, time investment, decision maker experience and expertise, self-efficacy and confidence, personal responsibility for the initial decision, ego threat, and proximity to project completion have been found to have positive relationships with escalation of commitment, while anticipated regret and positive information framing ...
The ninth chapter explains the upside of quitting and three reasons why people have so much difficulty quitting. Firstly, quitting is frowned upon in society. Secondly, it is often difficult to justify abandoning a project after putting so much time, money, and effort used in an effort to achieve success, also known as the "sunk cost fallacy."
For premium support please call: 800-290-4726 more ways to reach us
The sunk-cost problem helps explain why it was so hard to end that war. It is worth considering this problem as we reflect on current wars. The sunk-cost fallacy applies in our thinking about the ...
For premium support please call: 800-290-4726 more ways to reach us
Escalation of commitment, irrational escalation, or sunk cost fallacy, where people justify increased investment in a decision, based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong. G. I. Joe fallacy, the tendency to think that knowing about cognitive bias is enough to overcome it. [66]
Naturalistic fallacy fallacy is a type of argument from fallacy. Straw man fallacy – refuting an argument different from the one actually under discussion, while not recognizing or acknowledging the distinction. [110] Texas sharpshooter fallacy – improperly asserting a cause to explain a cluster of data. [111]