Sunk-Cost Effects on Purely Behavioral Investments
نویسندگان
چکیده
منابع مشابه
Sunk-Cost Effects on Purely Behavioral Investments
Although the sunk-cost effect is a well-documented psychological phenomenon in monetary investments, existing literature investigating behavioral investments (e.g., time, effort) has not replicated this effect except when such investments relate to monetary values. The current explanation for this discrepancy proposes that purely behavioral sunk-cost effects are unlikely to be observed because ...
متن کاملOn the Observability of Purely Behavioral Sunk-Cost Effects: Theoretical and Empirical Support for the BISC Model
There is growing interest in whether and how sunk-cost effects for purely behavioral investments occur. In this article, we further discuss Cunha and Caldieraro's (2009) Behavioral Investment Sunk Cost (BISC) model and reconcile Otto's (2010) results with the BISC model predictions. We also report new data from two unpublished experiments that are consistent with the BISC model, and we discuss ...
متن کاملSunk Investments Lead to Unpredictable Prices1
We study transactions that require investments before trading in a competitive market, when forward contracts fixing the transaction price are absent. We show that, despite the market being perfectly competitive and subject to arbitrarily little uncertainty, the inability to jointly determine investment levels and prices may make it impossible for buyers and sellers to predict the prices at whi...
متن کاملSunk Investments Lead to Unpredictable Prices
We study transactions that require investments before trading in a competitive market, when forward contracts fixing the transaction price are absent. We show that, despite the market being perfectly competitive and subject to arbitrarily little uncertainty, the inability to jointly determine investment levels and prices may make it impossible for buyers and sellers to predict the prices at whi...
متن کاملThree Attempts to Replicate the Behavioral Sunk-Cost Effect: A Note on Cunha and Caldieraro (2009)
Cunha and Caldieraro (2009) investigated whether sunk-cost effects, which are well documented in hypothetical situations involving monetary investments, also occur in choice situations with purely behavioral investments. Their results suggest that decision makers indeed fall prey to behavioral sunk-cost effects under certain circumstances. I have been unable to replicate their pattern of result...
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ژورنال
عنوان ژورنال: Cognitive Science
سال: 2009
ISSN: 0364-0213,1551-6709
DOI: 10.1111/j.1551-6709.2008.01005.x