Describe the competitive escalation paradigm and how it can be detrimental to financial decisions. Be sure to include in your discussion what competitive traps are and how to avoid them. Provide some examples of both competitive escalation and competitive traps.
Your response must be a minimum of 300 words in length.
Please ensure that the APA format is used, with the in-text citation not included in the 300-word essay. Ensure that following text book is included in the answer: Bazerman, M. H., & Moore, D. A. (2013). Judgment in managerial decision making (8th ed.). Hoboken, NJ: Wiley. Check all work before submitting the final answer for plagiarism.
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