The influence of Sunk Costs on Rational Decision Making in Behavioral Economics

Wangshiye Han ()
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Wangshiye Han: Yichang Tianwen International School

A chapter in Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), 2022, pp 1199-1203 from Springer

Abstract: Abstract At present, the research summarized of sunk cost effect almost all come from the cost of money. The behavioral sunk cost effect caused by time or effort has not attracted the attention of researchers until recent years, but the research in this aspect is just starting, and the few research conclusions are also controversial: some studies have confirmed the sunk time effect and sunk effort effect, but other studies have come to the opposite conclusion.In order to explore more factors affecting people's decision-making in the case of sunk cost, the following contents and questionnaire collection will be elaborated.

Keywords: Sunk costs; Rational decision-making; Reality and theory; Uncertain scenario (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-036-7_177

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DOI: 10.2991/978-94-6463-036-7_177

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