2015
DOI: 10.1057/jors.2014.24
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Causal loop diagrams as a de-escalation technique

Abstract: Escalation of commitment, the tendency of decision makers to keep on investing in losing courses of action, has been shown to be a costly decision bias that affects many areas of decision making. Even though escalation is a widely studied phenomenon, there has been comparatively little research on how to avoid this bias. The present study focuses on de-escalation of commitment and proposes that causal loop diagrams (CLDs) can help to decrease escalating commitment to a failing course of action. By means of an … Show more

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Cited by 7 publications
(1 citation statement)
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“…Greitemeyer and Schulz‐Hardt, ; Brodbeck et al, ). Receiving a model has been shown to counteract initial preferences in escalation of commitment (Pala et al, ). There is also evidence that drawing a causal map reduces framing effects (Hodgkinson et al, ; but see Wright and Goodwin, ).…”
Section: The Impact Of Model Usementioning
confidence: 99%
“…Greitemeyer and Schulz‐Hardt, ; Brodbeck et al, ). Receiving a model has been shown to counteract initial preferences in escalation of commitment (Pala et al, ). There is also evidence that drawing a causal map reduces framing effects (Hodgkinson et al, ; but see Wright and Goodwin, ).…”
Section: The Impact Of Model Usementioning
confidence: 99%