The Determinants of Sunk Cost Sensitivity In Students
AbstractWe conduct a vignette study of the propensity to commit the sunk cost fallacy with 106 undergradu-ates. Our contribution is to examine the socio-demographic determinants of "sunk cost sensitivity." The likelihood of commitment is found to be positively correlated with some ethnicities, negatively correlated with both family income and high personal income, negatively correlated with intermediate levels of schooling, and more or less uncorrelated with standard measures of educational ability and performance like GPAs and SAT scores.
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Bibliographic InfoPaper provided by Middlebury College, Department of Economics in its series Middlebury College Working Paper Series with number 0524.
Length: 10 pages
Date of creation: Sep 2005
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- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-41, September.
- Arkes, Hal R. & Blumer, Catherine, 1985. "The psychology of sunk cost," Organizational Behavior and Human Decision Processes, Elsevier, vol. 35(1), pages 124-140, February.
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