Projects are comprised of resource-constrained, sequential and linked substages. A setback in one of these substages may lead to Escalation of Commitment to a failing course of action (EOC). The objective of this thesis is to determine if component, not composite, sunk costs best predict EOC and if EOC can be mitigated by inducing Regulatory Focus (RF) and Counterfactual Thinking. Findings reveal that component sunk costs best predict EOC. A decision maker's RF also influences EOC when confronted with a risky choice decision. Three means of mitigating EOC are proposed: managing negative affect, varying system goal threat and managing paradox.
|Qualification||Doctor of Philosophy|
|Award date||31 Oct 2016|
|Publication status||Unpublished - 2016|