Try QuoteGPT
Chat naturally about what you need. Each answer links back to real quotes with citations.
When we are in the losses, we are not only more likely to stick to a losing course of action, but also to double down. This tendency is called escala… - Annie Duke
" "When we are in the losses, we are not only more likely to stick to a losing course of action, but also to double down. This tendency is called escalation of commitment. Escalation of commitment is robust and universal, occurring in individuals, organizations, and governmental entities. All of us tend to get stuck in courses of action once started, especially in the face of bad news. Escalation of commitment doesn't just occur in high-stakes situations. It also happens when the stakes are low, demonstrating the pervasiveness of the error.
English
Collect this quote
Also Known As
Birth Name:
Anne LaBarr Lederer
Alternative Names:
Anne LaBarr Duke
•
Annie Lederer
•
Anne Lederer
Related quotes. More quotes will automatically load as you scroll down, or you can use the load more buttons.
Additional quotes by Annie Duke
It's a shame the social contract for poker players is so different than for the rest of us in this regard because a lot of good can result from someone saying, "Wanna bet?" Offering a wager brings the risk out in the open, making explicit what is already implicit (and frequently overlooked). The more we recognize that we are betting on our beliefs (with our happiness, attention, health, money, time, or some other limited resource), the more we are likely to temper our statements, getting closer to the truth as we acknowledge the risk inherent in what we believe.
PREMIUM FEATURE
Advanced Search Filters
Filter search results by source, date, and more with our premium search tools.
If you want to pick a role model for designing a group's practical rules of engagement, you can't do better than Merton. To start, he coined the phrase "role model," along with "self-fulfilling prophecy," "reference group," "unintended consequences," and "focus group." He founded the science of sociology and was the first sociologist awarded the National Medal of Science.
Loading...