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How the Sunk Cost Fallacy Impacts Your Relationships
In the field of economics, the sunk cost fallacy — also called the sunk cost effect — is notorious. It occurs whenever we double down on poor financial decisions based on past investments that can't be recouped. But the phenomenon isn’t relegated only to the realm of business. You may be surprised to learn that it often rears its ugly head in our relationships as well. Sunk Cost Fallacy Examples Christopher Olivola, an associate professor of marketing at Carnegie Mellon University, offers up a few examples of sunk cost fallacy pertaining specifically to finances. ...
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More Effective Policymaking Keeps the Audience in Mind. Here’s the Science Behind Storytelling
Stories may complement established policy tools. Walsh and colleagues define the elements of storytelling and discuss stories’ key features and functions, providing design principles for policymakers interested in building stories.
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ARPA-H Requests Funding Proposals Aimed at Improving Health Outcomes
The call for proposals is intended to advance breakthrough research and technological advancement that improves health outcomes across patient populations and communities, as well as across diseases and health conditions.
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Stories in Action
Stories may complement established policy tools. Walsh and colleagues define the elements of storytelling and discuss stories’ key features and functions, providing design principles for policymakers interested in building stories.
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New Content From Advances in Methods and Practices in Psychological Science
A sample of articles on small-study findings, evaluating the quality of social/personality journals, comparing analysis blinding with preregistration in the many-analysts religion project, information provision for informed consent procedures, and much more.
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Why People Choose to Cooperate, According to Behavioral Science
People stop their cars simply because a little light turns from green to red. They crowd onto buses, trains and planes with complete strangers, yet fights seldom break out. Large, strong men routinely walk right past smaller, weaker ones without demanding their valuables. People pay their taxes and donate to food banks and other charities. Most of us give little thought to these everyday examples of cooperation. But to biologists, they’re remarkable — most animals don’t behave that way. “Even the least cooperative human groups are more cooperative than our closest cousins, chimpanzees and bonobos,” says Michael Muthukrishna, a behavioral scientist at the London School of Economics.
