Question

Pablo and his managers spent a large sum of money on the new training program, and they feel that there has been little improvement as a result of the investment. The training is scheduled to continue for two more months, and Pablo feels that the company has already spent too much money on the training to simply abandon it. Pablo is experiencing _________

Answer 1

Sunk cost bias

Explanation:

Sunk cost bias is related to the belief that a person thinks not only to slow down his personality improvement but also someone waste his whole lives. It indicates that something is bad happened to him that disturb him on regularity based. Most people think that they have been trapped and they never come out of it. They can overcome by simply aware of it. The sunk cost is not reversible. It is just like that you spent something that can not reverse but just have to wait for future outcomes. It is just like that you have throw money in chasing bad. It is not basically about money it could be time, efforts, etc.