1. -occurs when individuals continue on a failing course of action after information reveals this may be a poor path to follow. It is sometimes called sunk cost fallacy because the continuation is often based on the idea that one has already invested in this course of action.
2. - tendency to invest additional resources in an apparently losing proposition, influenced be effort, money, and time already invested.
3. -the more we invest into a decision the more we rationalize the amounts that we have invested into it.
2. - tendency to invest additional resources in an apparently losing proposition, influenced be effort, money, and time already invested.
3. -the more we invest into a decision the more we rationalize the amounts that we have invested into it.