Businesses and industry specialists in 2018 criticized the company Blockbuster for not being able to see that DVDs will soon become obsolete as all content moves towards digital streaming. What common bias in decision making is this referring to? Escalation of commitment Hindsight bias Risk aversion Anchoring bia

Businesses and industry specialists in 2018 criticized the company Blockbuster for not being able to see that DVDs will soon become obsolete as all content moves towards digital streaming. What common bias in decision making is this referring to? Escalation of commitment Hindsight bias Risk aversion Anchoring bia

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Escalation of commitment

Hindsight bias

Risk aversion

Anchoring bias

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