When we dedicate ourselves to a plan and it isn’t going as we hoped, our first instinct isn’t usually to rethink it. Instead, we tend to double down and sink more resources in the plan. This pattern is called escalation of commitment. Evidence shows that entrepreneurs persist with failing strategies when they should pivot, NBA general managers and coaches keep investing in new contracts and more playing time for draft busts, and politicians continue sending soldiers to wars that didn’t need to be fought in the first place. Sunk costs are a factor, but the most important causes appear to be
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