Evaluating the sunk cost effect
Sign Up to like & getrecommendations! Published in 2021 at "Journal of Economic Behavior and Organization"
DOI: 10.1016/j.jebo.2021.03.029
Abstract: Abstract We provide experimental evidence of behavior consistent with the sunk cost effect. Subjects who earned a lottery via a real-effort task were given an opportunity to switch to a dominant lottery; 23% chose to… read more here.
Keywords: behavior; sunk cost; cost effect; sunk ... See more keywords
It's no longer “me”: Low past-self-continuity reduces the sunk-cost bias
Sign Up to like & getrecommendations! Published in 2021 at "Journal of Experimental Social Psychology"
DOI: 10.1016/j.jesp.2021.104146
Abstract: Abstract The sunk-cost bias describes the tendency to continue an inferior course of action because one has invested significant, irrecoverable resources in it in the past. It can lead individuals to make decisions that are… read more here.
Keywords: cost bias; self continuity; sunk cost; self ... See more keywords
Sunk costs under stress: Acute stress reduces the impact of past expenses on risky decisions
Sign Up to like & getrecommendations! Published in 2022 at "Psychoneuroendocrinology"
DOI: 10.1016/j.psyneuen.2021.105632
Abstract: Rational choice should be guided solely by the prospects of available options. However, our decisions are often influenced by irrecoverable past costs, even when the current course of action turns out to be unfavorable, reflecting… read more here.
Keywords: stress; sunk cost; cost effect;
Transcranial Stimulation Over the Dorsolateral Prefrontal Cortex Increases the Impact of Past Expenses on Decision‐Making
Sign Up to like & getrecommendations! Published in 2017 at "Cerebral Cortex"
DOI: 10.1093/cercor/bhv298
Abstract: Abstract Goal‐directed choices should be guided by the expected value of the available options. However, people are often influenced by past costs in their decisions, thus succumbing to a bias known as the “sunk‐cost effect.”… read more here.
Keywords: dlpfc; stimulation; sunk cost; cost effect ... See more keywords
He Loves the One He Has Invested In: The Effects of Mating Cues on Men’s and Women’s Sunk Cost Bias
Sign Up to like & getrecommendations! Published in 2024 at "Journal of Consumer Research"
DOI: 10.1093/jcr/ucae048
Abstract: The sunk cost bias, ie, people’s suboptimal tendency to continue to pursue previously invested options, has been found in many domains, and various mechanisms have been proposed. The current study offers a novel perspective for… read more here.
Keywords: cost; sunk cost; mating cues; cost bias ... See more keywords
Resistance to Sunk Cost Propensity Moderate Relationship between Negative Life Event and Hopelessness.
Sign Up to like & getrecommendations! Published in 2023 at "Psychological reports"
DOI: 10.1177/00332941221149177
Abstract: Previous research has found that a negative life event is a main risk factor for hopelessness, which in turn is considered to be a proximal cause of major depression disorder and a suicide risk factor.… read more here.
Keywords: life; negative life; cost propensity; sunk cost ... See more keywords
A Revisit to Sunk Cost Fallacy for Two-Stage Stochastic Binary Decision Making
Sign Up to like & getrecommendations! Published in 2024 at "Mathematics"
DOI: 10.3390/math12101557
Abstract: This paper undertakes a revisit of the sunk cost fallacy, which refers to the tendency of people to persist investing resources into something, even if it is destined to have no good outcome. We emphasize… read more here.
Keywords: decision making; decision; sunk cost; cost fallacy ... See more keywords