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In page Escalation of commitment:
"The effect of sunk costs is often seen escalating commitment. When the amount of investment is greater and can not be recovered, the desire to avoid complete loss of those resources and keeping with impression management prompts continued investment over pulling out.[5] Relatedly, as invested resources can include time, closeness to completion of a project yields similar results. More value is placed on project when they are early or late in their process due to the clarity of completion goals at those points.[6] It's more likely that risks will be taken at these points than in a project closer to a visible midpoint.
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