The Psychology of Sunk Cost

@article{Arkes1985ThePO,
  title={The Psychology of Sunk Cost},
  author={H. Arkes and C. Blumer},
  journal={Organizational Behavior and Human Decision Processes},
  year={1985},
  volume={35},
  pages={124-140}
}
  • H. Arkes, C. Blumer
  • Published 1985
  • Economics
  • Organizational Behavior and Human Decision Processes
  • Abstract The sunk cost effect is manifested in a greater tendency to continue an endeavor once an investment in money, effort, or time has been made. Evidence that the psychological justification for this behavior is predicated on the desire not to appear wasteful is presented. In a field study, customers who had initially paid more for a season subscription to a theater series attended more plays during the next 6 months, presumably because of their higher sunk cost in the season tickets… CONTINUE READING
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