The 4 Main Determinants in Escalation of Commitment
What are the main drivers of this tendency to invest in losing propositions?
- Social (peer pressure)
- Psychological (gambling)
- Project (past commitments)
- Structural (cultural and environmental factors)
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Famous quotes containing the words main and/or commitment:
“The main business of religions is to purify, control, and restrain that excessive and exclusive taste for well-being which men acquire in times of equality.”
—Alexis de Tocqueville (1805–1859)
“Commitment, by its nature, frees us from ourselves and, while it stands us in opposition to some, it joins us with others similarly committed. Commitment moves us from the mirror trap of the self absorbed with the self to the freedom of a community of shared values.”
—Michael Lewis (late 20th century)