Individuals often honor their own sunk costs, increasing their commitment to failing courses of action, from financial investments to wars. Because honoring sunk costs is driven by self justification processes, a widely offered prescription for preventing escalation of commitment is to have a...

Goal setting is one of the most replicated and influential paradigms in the management literature. Hundreds of studies conducted in numerous countries and contexts have consistently demonstrated that setting specific, challenging goals can powerfully drive behavior and boost performance....