Download or read book Escalation in Decision-making written by Helga Drummond and published by Gower Publishing, Ltd.. This book was released on 2011 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a venture seems to be faltering, do you persist and hope that things will get better or do you cut your losses? Rich in case studies involving real business decisions and dilemmas, Escalation in Decision-Making reveals why social scientists believe that owners may not respond rationally to such predicaments. Instead of exiting when the odds are clearly stacked against them, they re-invest and end up compounding their losses - a phenomenon known as escalation of commitment. Escalation in Decision Making is widely relevant to practitioners such as project managers in large organizations and to those responsible for managing risk in many situations.