New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Chandra is planning a team-building weekend trip and

    wants the trip to take place at Goa. However, he is unable to find a venue that can accommodate the team at a reasonable price. So he gives up, and does the team-building weekend in the office building itself. What bias or error is done here by Chandra?
    A Overconfidence bias Correct Answer Incorrect Answer
    B Confirmation bias Correct Answer Incorrect Answer
    C Commitment bias Correct Answer Incorrect Answer
    D Availability bias Correct Answer Incorrect Answer
    E Hindsight bias Correct Answer Incorrect Answer

    Solution

    Commitment bias,or escalation of commitment, is described as the tendency to remain committed to our past behaviors/thought or idea, even if they do not have desirable outcomes. Here, Chandra was committed to the idea of meeting in Goa. He likely could have planned a good trip at a different location, but since he did not give up the idea in time, he ended up having a lack-luster event.

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