Fire Safety Awareness and Home Emergency Planning
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The Dollar Auction Game: Understanding Escalation of Commitment
Students participate in a competitive dollar auction designed to reveal escalation of commitment and irrational bidding.
$4.99USD · Digital download
Students participate in a competitive dollar auction designed to reveal escalation of commitment and irrational bidding. Includes game rules, facilitator instructions, guiding questions, bid-recording guidance, and background information for debriefing.
4 pagesof ready-to-use material · PDF
PDF
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What you’ll teach
Clear goals. Useful learning.
- Students will analyze escalation of commitment in competitive bidding.
- Students will identify the sunk cost fallacy in decision-making.
- Students will explain how loss avoidance and cognitive biases influence behavior.
- Students will reflect on strategies for avoiding irrational commitment.
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