Sunk Cost and Reputation Effect
Many people are not free from past sunk costs in their decision making processes, even though economic theory tells them to forget the sunk costs. In this paper we will show that it can be a rational behavior for the people not to forget the sunk cost when people are concerned with their future reputations.
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Paper provided by Yonsei University, Yonsei Economics Research Institute in its series Working papers
Date of creation:
15 Nov 2012Date of revision:
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Related researchKeywords: sunk cost
Find related papers by JEL classification:
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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