Escalation bias: does it extend to marketing?
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Escalation bias implies that managers favor reinvestments in projects that are doing poorly over those doing well. We tested this implication in a marketing context by conducting experiments on advertising and product-design decisions. Each situation was varied to reflect either a long-term or a short-term decision. Besides these four conditions, we conducted three replications. We found little evidence of escalation bias by 365 subjects in the seven experimental comparisons.
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1993-06-01
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Postprint version. Published in Journal of the Academy of Marketing Science, Volume 21, Number 3, Summer 1993, pages 247-253. The author has asserted his/her right to include this material in ScholarlyCommons@Penn.