Game theory

Escalation of commitment

Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from a decision, action, or investment nevertheless continue the behavior instead of altering course. The actor maintains behaviors that are irrational, but align with previous decisions and actions. Economists and behavioral scientists use a related term, sunk-cost fallacy, to describe the justification of increased investment of money or effort in a decision, based on the cumulative prior investment ("sunk cost") despite new evidence suggesting that the future cost of continuing the behavior outweighs the expected benefit. In sociology, irrational escalation of commitment or commitment bias describe similar behaviors. The phenomenon and the sentiment underlying them are reflected in such proverbial images as "Throwing good money after bad", or "In for a penny, in for a pound", or "It's never the wrong time to make the right decision", or "If you find yourself in a hole, stop digging." (Wikipedia).

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From playlist Number: Fractions, Decimal & Percentage Equivalences

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From playlist Zill DE 4.1 Preliminary Theory - Linear Equations

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From playlist One-sided Limits

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In this talk from June 1, 2021, Caitlin Talmadge, an associate professor at Georgetown University, and Brendan Green, an associate professor at the University of Cincinnati, discuss whether, when, and how great power alliance commitments to weaker states can lead to peacetime military poli

From playlist Center for Global Security Research

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From playlist Number Sense - Decimals, Percents, and Ratios

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In this CGSR talk from April 5, 2022, Dr. Aaron Miles, Senior Advisor, U.S. Department of State, discusses some of the nuclear crisis elements from the lead-up to and first weeks of the war in Ukraine, and considers what these events indicate about deterrence success and failure, nuclear s

From playlist Center for Global Security Research

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This video explains how to convert percentages to fractions. http://mathispower4u.com

From playlist Introduction to Percentages

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From playlist Center for Global Security Research

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From playlist Fractions, Decimals and Percentages

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From playlist Number Sense - Decimals, Percents, and Ratios

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Nuclear Weapons Policy in the Age of Putin and Xi - Walter B. Slocombe

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Dollar auction | Prospect theory | Sunk cost | Lean startup | Confirmation bias | Martingale (betting system) | Loss aversion