1.

Record Nr.

UNINA9910460342303321

Autore

Drummond Helga

Titolo

Escalation in decision-making [[electronic resource] ] : behavioural economics in business / / Helga Drummond, Julia Hodgson

Pubbl/distr/stampa

Farnham ; ; Burlington, Vt., : Gower, c2011

ISBN

1-317-14170-9

1-317-14169-5

1-283-04756-X

9786613047564

1-4094-0237-1

Descrizione fisica

1 online resource (180 p.)

Altri autori (Persone)

HodgsonJulia <1965->

Disciplina

658.4/03

Soggetti

Decision making

Economics - Psychological aspects

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references and index.

Nota di contenuto

CONTENTS; List of Tables; Acknowledgement; About the Authors; Introduction; A Note on Method; Chapter 1 If at First You Don't Succeed - Then What? Introduction to Escalation Theory; Chapter 2 Shutters Up: A Walk Round the Market; Chapter 3 'Maybe We Can Make A Go Of It': How Does Escalation Start?; Chapter 4 Missing the Boat or Sinking the Boat? The Realities of Escalation; Chapter 5 'You Think It's Going to Turn Round': Escalation; Chapter 6 Five Past Midnight: Introduction to Entrapment Theory; Chapter 7 Entrapment in Practice; Chapter 8 'I'm Getting Out': Escalation and Entrapment Avoided

Chapter 9 Escalation and Entrapment Theories RevisitedChapter 10 Beyond Magic Thinking: Making Better Decisions - 10 Lessons For Practice; Epilogue; Appendix; References; Index

Sommario/riassunto

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