Non-Rational Escalation of Commitment

Non-Rational Escalation of Commitment

Introduction

The escalation of commitment was first described by Barry M. recently, the term sunk costs was mistakenly used to describe this phenomenon, when people justify increased investment in the solution, based on the total amount of previous investments, despite new evidence that the decision was probably wrong (Barry M, 1976). The main focus of this assignment is to find the best possible answers of the following questions in the next part of the paper.

Discussion

During the last two decades, the escalation of commitment has resulted in a substantial literature in applied psychology and organizational behavior. ...