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This chapter analyses events leading up to the decision made by the board of the London Stock Exchange (LSE) in the autumn of 1991 to allocate further funding to Project Taurus. This decision is especially interesting because in retrospect, some people close to the project felt that it should have been stopped. This chapter examines why the decision-makers persisted and whether such persistence was a rational response to circumstances. According to the decision dilemma theory, withdrawal is logical when it becomes clear that decision-makers' expectations will not be met. The project was not stopped in 1991 despite considerable negative feedback. Once it becomes clear that expectations will not be met, persistence is dictated by psychological and social pressures coming into play sequentially. The root of escalation in decision-making, escalation as the observance of due diligence, and the actions of other players, including the market and the Taurus monitoring group, are considered.
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