The literature suggests that managers responsible for initiating a failing new product development project (hereinafter project), generally maintain positive subjective evaluations about the original decision, even in the face of adverse intermediate outcomes, and are likely to continue down a failing course (Schmidt and Calantone 2002). Many studies have investigated the cognitive antecedents of escalation of commitment in so doing drawing upon a variety of conceptual bases as the underlying rationale (see Staw 1997). However, an extended literature search suggests that little research has investigated the effects of regret and a closely associated emotion, disappointment, on personal-agency-induced escalation of commitment.
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