What Is the Sunk Cost Fallacy?
Your ticket is a sunk cost: stay or leave, the 12 dollars are gone.
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1.What is a sunk cost?
Your ticket is a sunk cost: stay or leave, the 12 dollars are gone.
2.What does traditional economics say should count in a decision?
The sunk cost fallacy means letting a past cost steer a choice about the future.
3.At Ohio University full-price buyers went to 4.11 shows on average. What did discount groups do?
Paying more seems to pull people back, but only 54 people took part and by the second half of the season the gap had faded.
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Sources (2)
- The Psychology of Sunk Cost (Arkes & Blumer, Organizational Behavior and Human Decision Processes 35, S. 124-140, 1985; Scan
- Eigene Rechnung: synthetische Beispiele Kinokarte
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