Escalation of commitment is independent of numeracy and cognitive reflection. Failed replication and extension of Staw (1976)
Author
Abstract
Suggested Citation
DOI: 10.18559/ebr.2021.2.2
Download full text from publisher
References listed on IDEAS
- Edward T. Cokely & Mirta Galesic & Eric Schulz & Saima Ghazal & Rocio Garcia-Retamero, 2012. "Measuring risk literacy: The Berlin Numeracy Test," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 7(1), pages 25-47, January.
- Sobkow, Agata & Olszewska, Angelika & Traczyk, Jakub, 2020. "Multiple numeric competencies predict decision outcomes beyond fluid intelligence and cognitive reflection," Intelligence, Elsevier, vol. 80(C).
- Daniel Friedman & Kai Pommerenke & Rajan Lukose & Garrett Milam & Bernardo Huberman, 2007.
"Searching for the sunk cost fallacy,"
Experimental Economics, Springer;Economic Science Association, vol. 10(1), pages 79-104, March.
- Daniel Friedman & Kai Pommerenke & Rajan Lukose & Garret Milam & Bernardo A. Huberman, 2004. "Searching for the Sunk Cost Fallacy," Experimental 0407008, University Library of Munich, Germany.
- Daniel Friedman & Kai Pommerenke & Rajan Lukose & Garret Milam & Bernardo A. Huberman, 2004. "Searching for the Sunk Cost Fallacy," Experimental 0407007, University Library of Munich, Germany.
- Ethan A. Meyers & Michał Białek & Jonathan A. Fugelsang & Derek J. Koehler & Ori Friedman, 2019. "Wronging past rights: The sunk cost bias distorts moral judgment," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 14(6), pages 721-727, November.
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2020. "Evaluating the Sunk Cost Effect," The Warwick Economics Research Paper Series (TWERPS) 1269, University of Warwick, Department of Economics.
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2021.
"Evaluating the sunk cost effect,"
Journal of Economic Behavior & Organization, Elsevier, vol. 186(C), pages 318-327.
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2020. "Evaluating the Sunk Cost Effect," CAGE Online Working Paper Series 475, Competitive Advantage in the Global Economy (CAGE).
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2021. "Evaluating the Sunk Cost Effect," IZA Discussion Papers 14257, IZA Network @ LISER.
- Marcello Negrini & Arno Riedl & Matthias Wibral, 2020.
"Still in Search of the Sunk Cost Bias,"
CESifo Working Paper Series
8623, CESifo.
- Negrini, Marcello & Riedl, Arno & Wibral, Matthias, 2020. "Still in search of the sunk cost bias," Research Memorandum 028, Maastricht University, Graduate School of Business and Economics (GSBE).
- Shane Frederick, 2005. "Cognitive Reflection and Decision Making," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 25-42, Fall.
- Armstrong, J. Scott & Coviello, Nicole & Safranek, Barbara, 1993.
"Escalation bias: does it extend to marketing?,"
MPRA Paper
81685, University Library of Munich, Germany.
- JS Armstrong & Nicole Coviello & Barbara Safranek, 2005. "Escalation Bias: Does It Extend to Marketing?," General Economics and Teaching 0502036, University Library of Munich, Germany.
- Andrew Meyer & Elizabeth Zhou & Shane Frederick, 2018. "The non-effects of repeated exposure to the Cognitive Reflection Test," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(3), pages 246-259, May.
- 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.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Erceg, Nikola & Galić, Zvonimir & Bubić, Andreja, 2022. "Normative responding on cognitive bias tasks: Some evidence for a weak rationality factor that is mostly explained by numeracy and actively open-minded thinking," Intelligence, Elsevier, vol. 90(C).
- Marcello Negrini & Arno Riedl & Matthias Wibral, 2020.
"Still in Search of the Sunk Cost Bias,"
CESifo Working Paper Series
8623, CESifo.
- Negrini, Marcello & Riedl, Arno & Wibral, Matthias, 2020. "Still in search of the sunk cost bias," Research Memorandum 028, Maastricht University, Graduate School of Business and Economics (GSBE).
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2021.
"Evaluating the sunk cost effect,"
Journal of Economic Behavior & Organization, Elsevier, vol. 186(C), pages 318-327.
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2020. "Evaluating the Sunk Cost Effect," CAGE Online Working Paper Series 475, Competitive Advantage in the Global Economy (CAGE).
- Ronayne, David & Sgroi, Daniel & Tuckwell, Anthony, 2021. "Evaluating the Sunk Cost Effect," IZA Discussion Papers 14257, IZA Network @ LISER.
- Gignac, Gilles E. & Zajenkowski, Marcin, 2025. "Humans peak in midlife: A combined cognitive and personality trait perspective," Intelligence, Elsevier, vol. 113(C).
- Negrini, Marcello & Riedl, Arno & Wibral, Matthias, 2022. "Sunk cost in investment decisions," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1105-1135.
- Nicolas Eber & Patrick Roger & Tristan Roger, 2024.
"Finance and intelligence: An overview of the literature,"
Journal of Economic Surveys, Wiley Blackwell, vol. 38(2), pages 503-554, April.
- Nicolas Eber & Patrick Roger & Tristan Roger, 2023. "Finance and intelligence: An overview of the literature," Post-Print hal-04243115, HAL.
- Haita-Falah, Corina, 2017. "Sunk-cost fallacy and cognitive ability in individual decision-making," Journal of Economic Psychology, Elsevier, vol. 58(C), pages 44-59.
- Firth, Chris & Stewart, Neil & Antoniou, Constantinos & Leake, David, 2023. "The effects of personality and IQ on portfolio outcomes," Finance Research Letters, Elsevier, vol. 51(C).
- Beknazar-Yuzbashev, George & Ichiba, Sota & Stalinski, Mateusz, 2025. "To the Depths of the Sunk Cost : Experiments Revisiting the Elusive Effect," The Warwick Economics Research Paper Series (TWERPS) 1544, University of Warwick, Department of Economics.
- Arunachalam Narayanan & Brent B. Moritz, 2015. "Decision Making and Cognition in Multi-Echelon Supply Chains: An Experimental Study," Production and Operations Management, Production and Operations Management Society, vol. 24(8), pages 1216-1234, August.
- Irina Gemmo & Pierre-Carl Michaud & Olivia S. Mitchell, 2023.
"Selection into Financial Education and Effects on Portfolio Choice,"
NBER Working Papers
31682, National Bureau of Economic Research, Inc.
- Irina Gemmo & Pierre-Carl Michaud & Olivia S. Mitchell, 2023. "Selection into Financial Education and Effects on Portfolio Choice," CIRANO Working Papers 2023s-21, CIRANO.
- Irina Gemmo & Pierre-Carl Michaud & Olivia S. Mitchell, 2023. "Selection into Financial Education and Effects on Portfolio Choice," Cahiers de recherche / Working Papers 16, Institut sur la retraite et l'épargne / Retirement and Savings Institute.
- Ray Saadaoui Mallek & Mohamed Albaity, 2019. "Individual differences and cognitive reflection across gender and nationality the case of the United Arab Emirates," Cogent Economics & Finance, Taylor & Francis Journals, vol. 7(1), pages 1567965-156, January.
- Florian Heine & Martin Sefton, 2018. "To Tender or Not to Tender? Deliberate and Exogenous Sunk Costs in a Public Good Game," Games, MDPI, vol. 9(3), pages 1-28, June.
- Oosterbeek, Hessel & van der Klaauw, Bas & Ketel, Nadine & Linde, Jona, 2014.
"Tuition fees as a commitment device,"
CEPR Discussion Papers
9862, C.E.P.R. Discussion Papers.
- Ketel, Nadine & Linde, Jona & Oosterbeek, Hessel & van der Klaauw, Bas, 2014. "Tuition Fees as a Commitment Device," IZA Discussion Papers 7951, IZA Network @ LISER.
- Gneezy, Uri & Nelidov, Vadim & Offerman, Theo & van de Ven, Jeroen, 2023. "When opportunities backfire: Alternatives reduce perseverance and success in task completion," Journal of Economic Behavior & Organization, Elsevier, vol. 208(C), pages 304-324.
- Moghaddasi Kelishomi, Ali & Sgroi, Daniel, 2022. "Cognitive ability and risk preferences in a developing nation: Findings from the field," Economics Letters, Elsevier, vol. 216(C).
- Duxbury, Darren, 2012. "Sunk costs and sunk benefits: A re-examination of re-investment decisions," The British Accounting Review, Elsevier, vol. 44(3), pages 144-156.
- Nava Ashraf & James Berry & Jesse M. Shapiro, 2010.
"Can Higher Prices Stimulate Product Use? Evidence from a Field Experiment in Zambia,"
American Economic Review, American Economic Association, vol. 100(5), pages 2383-2413, December.
- Nava Ashraf & James Berry & Jesse M. Shapiro, 2007. "Can Higher Prices Stimulate Product Use? Evidence from a Field Experiment in Zambia," NBER Working Papers 13247, National Bureau of Economic Research, Inc.
- Karl Halvor Teigen & Erik Løhre & Sigrid Møyner Hohle, 2018. "The boundary effect: Perceived post hoc accuracy of prediction intervals," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 13(4), pages 309-321, July.
- Sven Gruener, 2024. "Determinants of Gullibility to Misinformation: A Study of Climate Change, COVID-19 and Artificial Intelligence," Journal of Interdisciplinary Economics, , vol. 36(1), pages 58-78, January.
More about this item
Keywords
; ; ; ;JEL classification:
- D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:ecobur:v:7:y:2021:i:2:p:5-16:n:6. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.
Printed from https://ideas.repec.org/a/vrs/ecobur/v7y2021i2p5-16n6.html