Putten, Marijke van; Zeelenberg, Marcel; Dijk, Eric van - In: Judgment and Decision Making 5 (2010) 1, pp. 33-36
The sunk cost fallacy is the tendency to continue an endeavour once an investment in money, effort, or time has been made. We studied how people's chronic orientation to cope with failing projects (i.e., action vs. state orientation) influences the occurrence of this sunk cost effect. We found...