Your Cousin Vicky Remodeled an Old Beach House Last Year

Multiple Choice

Your cousin Vicky remodeled an old beach house last year.Vicky put on a new roof and shelled the driveway.This year,he needs to upgrade the electricity and replace most of the plumbing.You asked him,"Why don't you just sell?" Vicky waved a stack of invoices in your face and said,"I already put this much money into the place!" This statement is an example of the _______________ type of judgment error.

A) availability
B) escalation of commitment
C) anchoring and adjustment
D) confirmation
E) overconfidence