Dynamic snk costs: Importance matters when opportunity costs are explicit.
The sunk cost fallacy is a well-established phenomenon where decision makers continue to commit resources, or escalate commitment, because of previously committed efforts, even when they have knowledge that their returns will not outweigh their investment. Most research on the sunk cost fallacy is d...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
University Library Heidelberg
2020-12-01
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| Series: | Journal of Dynamic Decision Making |
| Subjects: | |
| Online Access: | https://journals.ub.uni-heidelberg.de/index.php/jddm/article/view/71968 |