Several factors can contribute to the escalation of commitment in entrepreneurship:
Overconfidence: Entrepreneurs often believe strongly in their business ideas, which can lead to overestimating the likelihood of success. Sunk Cost Fallacy: The misconception that past investments justify continuing the project, even when future benefits are unlikely. Social Pressure: Expectations from investors, employees, and even family can push entrepreneurs to persist. Emotional Attachment: Personal passion and emotional investment in the project can cloud judgment.