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escalating commitment

continued commitment and increased allocation of resources to a failing course of action, often in the hope of recouping past losses associated with that course of action. It is often associated with expenditures and decision making in the development of new products, when a company increases the allocation of resources to a failing product, regardless of the low probability of its success, in an attempt to recover some of its initial investment.

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Psychology term of the day

February 26th 2024