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The Interpersonal Sunk-Cost Effect
- PsychologyPsychological science
- 2018
The present research demonstrates that the sunk-cost effect is also an interpersonal effect (i.e., people will alter their choices in response to other people’s past investments, and poses interesting challenges for existing accounts of this fascinating human tendency).
Don't Stop Now: The Sunk Cost Effect in an Incentivized Lab Experiment
- Economics
- 2018
Though widely accepted in psychology, the Sunk Cost Effect (SCE) finds little support from recent evidence in economics. The SCE is when individuals continue along an unprofitable course because of…
The role of probability of success estimates in the sunk cost effect
- Psychology, Political Science
- 2000
The sunk cost effect is manifested in a tendency to continue an endeavor once an investment has been made. Arkes and Blumer (1985) showed that a sunk cost increases one's estimated probability that…
Behavioral and Prescriptive Explanations of a Reverse Sunk Cost Effect
- Economics
- 2002
The all too common sunk cost effect is apparent when an investor influenced by what has been spent already persists in a venture, committing further resources or foregoing more profitable…
Is there a Sunk Cost Effect in Committed Relationships?
- PsychologyCurrent Psychology
- 2016
The sunk cost effect occurs when a prior investment in one option leads to a continuous investment in that option, despite not being the best decision. The aim of the present paper was to study the…
Is there a Sunk Cost Effect in Committed Relationships?
- Psychology
- 2018
The sunk cost effect occurs when a prior investment in one option leads to a continuous investment in that option, despite not being the best decision. The aim of the present paper was to study the…
Effects of absolute and relative sunk costs on the decision to persist with a course of action
- Psychology
- 1991
Behavioral Investments in the Short Term Fail to Produce a Sunk Cost Effect
- PsychologyPsychological reports
- 2018
A cognitive bias known as the sunk cost effect has been found across a number of contexts; this bias drives the continued investment of time, effort, or money into an endeavor on the basis of prior investments into it, with the possibility that some short-term behavioral investments are not subject to this effect.
The sunk cost and Concorde effects: Are humans less rational than lower animals?
- Economics
- 1999
The sunk cost effect is a maladaptive economic behavior that is manifested in a greater tendency to continue an endeavor once an investment in money, effort, or time has been made. The Concorde…
How does cognitive dissonance influence the sunk cost effect?
- BusinessPsychology research and behavior management
- 2018
The empirical results show that cognitive dissonance does not mediate the relationship between sunk costs and willingness to continue an unfavorable investment project and psychological mechanisms to explain the sunk cost effect based on the theory of Cognitive dissonance are offered.
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