Foxes And Hedgehogs Chapter 1 Analysis

In Chapter Eight, the textbook mentions how “the sunk cost effect is a tendency to continue an action once an investment in money, effect, or time has already been made” (Chapter 8, pg. 85). The textbook also mentions how, “sunk cost thinking can lead individuals to throw good money after bad, leading to an escalation of commitment” (Chapter 8, pg. 86). In other words, this means that an individual pays a certain amount of money to attend an event that they thought would be fun to attend, however; in reality the event did not meet up to his or her expectations. Since the individual already invested money into attending this event, the individual continues to stay instead of leaving. This could be because, the individual already paid for the event that was costly to …show more content…
I watched a few videos about this on You-Tube and I have to say I think that Kelly is a hedgehog after watching a video of her talking live about the situation. The textbook mentions how, “Both foxes and hedgehogs tend to over predict change, however, Tetlock found that hedgehogs does so more than foxes and how this was the case for predicting both change for the better and change for the worse”(Chapter 9, pg. 95). After watching the New Entertainment show and what Kelly had to say live, I am thinking she is the hedgehog because she seems very strong minded with her beliefs, values, and emotions. Kelly also seems very independent as well. Kelly was upset that Micheal was leaving and apparently there was some tension about her wanting more respect in the work place and how she went live to express her feelings and about the dispute on Micheal leaving this is why I think she has more of a hedgehog personality