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| Author: | Sharp, D. Salter, S. |
| Title: | Project escalation and sunk costs: a test of the international generalizability of agency and prospect theories |
| Journal: | Journal of International Business Studies
1997 : FIRST QUARTER, VOL. 28:1, p. 101-121 |
| Index terms: | SUNK COSTS PROJECTS THEORIES |
| Language: | eng |
| Abstract: | Previous North American research suggests that aspects of agency theory and prospect theory may explain decisions to escalate commitment to failing projects. This study explores the universality of these theories in this context. The willingness of North American and Asian managers to escalate commitment to losing projects was measured using four go/no-go decision cases. The authors hypothesized that Asian managers would be less willing to act in their self-interest (a lower agency effect), and more willing to escalate a decision in the face of negative framing (a stronger framing effect). |
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