Escalation of Commitment in R&D Projects (abstract only)  

Oleh:

Kim, Eunhee

Jenis: Article from Proceeding
Dalam koleksi: The International Symposium on Social Sciences (TISSS) and Hong Kong International Conference on Education, Psychology and Society (HKICEPS) at Hongkong, December 2013, page 37.
Topik: escalation of commitment; R&D project stage; in-house R&D projects; external R&D projects. decision-making
Fulltext: Hong Kong-Conference 3.pdf (208.39KB)

Isi artikel

Escalation of commitment refers to the phenomenon whereby decision-makers increase resource commitment and risk further losses. Escalation of commitment has been shown to influence people’s decision making in a wide variety of contexts. The risks of R&D projects rise as the high complexity and investment of innovative technology development increase, and rational decision making in every stage of R&D projects is critical. This study presents the various escalation factors based on previous literatures, and suggests an integrated model of rational and irrational escalation for the decision making in management of R&D projects. The implications of the proposed escalation model for both in-house and external R&D project are discussed.

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