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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

July 27th 2024

analogies test

analogies test

a test of the participant’s ability to comprehend the relationship between two items and then extend that relationship to a different situation: For example, paintbrush is to paint as pen is to ___.