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escalationofcommitment

escalation of commitment

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Definitions of escalation of commitment in various dictionaries:

ESCALATION OF COMMITMENT - Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from some decision, action...

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Escalation of commitment description
Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from some decision, action, or investment nevertheless continues the same behavior rather than alter course. The actor maintains behaviors that are irrational, but align with previous decisions and actions.Economists and behavioral scientists use a related term, sunk-cost fallacy, to describe the justification of increased investment of money, time, lives, etc. in a decision, based on the cumulative prior investment ("sunk cost") despite new evidence suggesting that the cost, beginning immediately, of continuing the decision outweighs the expected benefit. * In sociology, irrational escalation of commitment or commitment bias describe similar behaviours. The phenomenon and the sentiment underlying it are reflected in such proverbial images as "throwing good money after bad", "in for a penny, in for a pound", and "if at first you don't succeed, try, try again".

Escalation of commitment description

Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from some decision, action, or investment nevertheless continues the same behavior rather than alter course. The actor maintains behaviors that are irrational, but align with previous decisions and actions.Economists and behavioral scientists use a related term, sunk-cost fallacy, to describe the justification of increased investment of money, time, lives, etc. in a decision, based on the cumulative prior investment ("sunk cost") despite new evidence suggesting that the cost, beginning immediately, of continuing the decision outweighs the expected benefit.
* In sociology, irrational escalation of commitment or commitment bias describe similar behaviours. The phenomenon and the sentiment underlying it are reflected in such proverbial images as "throwing good money after bad", "in for a penny, in for a pound", and "if at first you don't succeed, try, try again".

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