Elizabeth was just named the CEO of a pen company called Montague Pens Inc . She immediately changed the name to " Elizabeth ' s Pens . " When asked why she made this change by the board of directors , who showed research that there was no correlation between success and CEO names , she responded by saying , " my previous company had the name of their CEO in the title , and they were very successful . " This fallacy on Elizabeth ' s part reveals her

confirmation bias . escalation of commitment . groupthink . optimal decision making .