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Marlin had a small construction company that couldn't take all the business that came to it , so Marlin hired more workers and expanded his
Marlin had a small construction company that couldn't take all the business that came to it so Marlin hired more workers and expanded his business rapidly. Then a
recession hit and business dropped off, but Marlin decided to keep' all of his workers on payroll and even hire a few more until it picked up again. When it didn't, Marlin went
out of business due to his high costs. Which source of cognitive bias did Marlin exhibit?
Multiple Choice
illusion of control
confirmation bias
representativeness bias
escalating commitment
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