"We've used this supplier for ten years" is offered as the reason to keep them. This is:

Answer

Sunk cost together with status-quo bias

Options - A. A loyalty criterion, correctly weighted - B. Anchoring on the first supplier - C. Sunk cost together with status-quo bias - D. Base-rate reasoning about suppliers Why - A. Loyalty could be a criterion if a stakeholder objective traced to it. Ten years of history, on its own, is not a score on any criterion. - B. Anchoring is judging later figures against a first one. No figure is being compared here. - C. Correct — the years already spent are unrecoverable under every alternative, and the familiar option feels safe because it is familiar. Score the supplier on the criteria like the rest. - D. A base rate would be how often suppliers of this kind perform well. Ten years with one supplier is a history, not a rate.

authored from public-domain terms (gaps §3); Van Cleave 3.7–3.9; OpenStax Business 7.3; concept map G11, G12