Escalation of Commitment

Introduction

There are many occurrences where people can become stuck or locked into a costly and failing course of action. Since it is often possible for many individuals who have faced setbacks in recovering from their losses by committing even more resources in terms of money, time etc. to the same failing course of action thereby resulting a cycle of escalation of commitment. The paper will explore the concept of escalation of commitment along with its causes and effects.

Discussion

There are many instances where an individual can encounter escalation of commitment resulting into a long lasting impact upon the person's life. ...