Jump to ContentJump to Main Navigation
Escalation in Decision-MakingThe Tragedy of Taurus$
Users without a subscription are not able to see the full content.

Helga Drummond

Print publication date: 1996

Print ISBN-13: 9780198289531

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289531.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 January 2021

Researching Taurus

Researching Taurus

(p.21) 2 Researching Taurus
Escalation in Decision-Making

Helga Drummond

Oxford University Press

This chapter examines escalation in decision-making concerning Project Taurus. The analysis is based on the propositions of social-psychological theory and decision dilemma theory. The basic research question was whether persistence in a failing course of action results from decision errors or is basically an economically prudent response to difficult circumstances. More specifically, it was expected that escalation would either be characterized by irrational behaviour stemming from fear of failure, or that it would be a function of the decision-maker's information. Conversely, it was expected that withdrawal would result either when the costs of persistence overrode social and psychological pressures or when such pressures weakened. Alternatively, withdrawal would result when decision-makers' information clearly indicated that further investment in the project was futile. This chapter explores Project Taurus in the context of the city of London and the London Stock Exchange's role in the city. It considers what escalation is, the root cause of escalation, and the factors associated with escalation.

Keywords:   Project Taurus, escalation, London Stock Exchange, London, decision-making, social-psychological theory, decision dilemma theory, persistence, withdrawal

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .