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Another’s wasted investment is as disturbing as one’s own
THAT human beings often continue to pour money into bad projects because they have already invested in them and cannot bring themselves to lose that investment is well known. Indeed the sunk-cost fallacy, as this phenomenon is called, is frequently cited as an example of people failing to behave in the “rational” way that classical economics suggests they should. Though the exact psychological underpinning of the sunk-cost fallacy is debated, it might reasonably be expected to apply only when the person displaying it also made the original investment. However a study published recently in Psychological Science by Christopher Olivola of Carnegie Melon University suggests this is not true.
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New Research From Psychological Science
Read about the latest research published in Psychological Science: The Political Self: How Identity Aligns Preferences With Epistemic Needs Christopher M. Federico and Pierce D. Ekstrom Previous research has suggested that people motivated to quickly get answers and make decisions (i.e., those with high need for closure) tend to affiliate with the political right. However, people who prefer to keep their options open (i.e., those with low need for closure) tend to affiliate with the political left. But how does the extent to which one's political preferences are central to one's self-concept affect these findings? The authors analyzed data from a U.S.
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Employees Actively Snub Bosses Who Discourage Work-Life Balance
The respondents rated how well they thought the boss handled a situation then rated the extent they would avoid him in the office or fail to invite him to after-work gatherings.
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The Carpenter Vs. The Gardener: Two Models Of Modern Parenting
Parents these days are stressed. So are their kids. The root of this anxiety, one scholar says, is the way we understand the relationship between parents and children. Alison Gopnik, a psychology and philosophy professor at the University of California, Berkeley, thinks parents—especially middle-class parents—view their children as entities they can mold into a specific image.
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Can you change implicit bias?
"Think of implicit bias as the thumbprint of the culture on our brain." Harvard University social psychologist Mahzarin Banaji describe how institutions can effectively deal with bias.
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Social Pursuits Linked With Increased Life Satisfaction
Data from a study of German adults showed that people who adopted socially-focused strategies reported increased life satisfaction one year later.
