Discuss the following:
Discuss how perceptual bias affected President George W. Bush's decisions that lead the United States into war in Iraq in 2003. Did judgmental bias play a part in these decisions?
In the 1960s, Britain and France decided to jointly fund and build a supersonic transport that became known as the Concorde. Research the decision to build and fly the supersonic transport Concorde. Then, discuss how the sunk costs and an escalation of commitment affected their decisions.
During the Cold War and post-Cold War eras, the United States and the Soviet Union have been competing with one another in attempts to gain a strategic advantage over one another. The Strategic Defense Initiative (SDI) was born out of that competition. Discuss the SDI and how the United States and the Soviet Union applied the competitive escalation paradigm.
Throughout its existence, Saturn has never turned a profit for General Motors. Research the history of Saturn and GM's decision to continue funding it (although GM has now decided to close down the auto maker). Why hadn't Saturn made a profit? Was escalation of commitment in play in GM's decision? If so, how?
Discuss a time when you were involved, either as an individual or as part of a group, in a decision in which escalation of commitment took place. How did you feel about the decision and the escalation?