Asked by DYLAN BECKER on Sep 30, 2024
Bob DeSlob,CEO of Westlake Inc. ,had supported the development and distribution of the Super Widget,a product that is expensive to make.The Super Widget failed to meet its expected sales.decides to invest more resources to produce and aggressively market the Super Widget,rationalizing that if he did not invest more in the product,what he has invested would be lost.Bob is engaging in:
A) sunk cost fallacy.
B) argumentum ad baculum.
C) argumentum ad hominem.
D) reductio ad absurdum.
Sunk Cost Fallacy
The sunk cost fallacy is an economic concept that refers to the misconception leading people to continue investing in something solely because they have already invested resources in it, not considering the future benefits independently of past costs.
Argumentum Ad Baculum
A logical fallacy or argument that uses the threat of force or intimidation to persuade or ensure compliance, essentially an appeal to force.
Argumentum Ad Hominem
A logical fallacy where an argument is rebutted by attacking the character, motive, or other attributes of the person making the argument, rather than addressing the substance of the argument itself.
- Analyze the effects of logical fallacies like the sunk cost fallacy on business decisions.
Learning Objectives
- Analyze the effects of logical fallacies like the sunk cost fallacy on business decisions.
Related questions
Jack Flipped a Coin Five Times and Each Time It ...
Doing or Buying Something Merely Because It Is Just Released ...
Recently,retailers Were Criticized for Opening Their Retail Stores on Thanksgiving ...
Studies Show That Humans Need to Drink 10 Glasses of ...
The ________ Fallacy Generates Support for a Proposition by Focusing ...