-
Why the Most Important Idea in Behavioral Decision-Making Is a Fallacy
Loss aversion, the idea that losses are more psychologically impactful than gains, is widely considered the most important idea of behavioral decision-making and its sister field of behavioral economics. To illustrate the importance loss aversion
-
The Sunk Cost Fallacy Is Ruining Your Decisions. Here’s How
If you’ve ever let unworn clothes clutter your closet just because they were expensive, or followed through on plans you were dreading because you already bought tickets, you’re familiar with the sunk cost fallacy. “The
-
How Other People’s Investments Can Elicit the Sunk-Cost Fallacy
A researcher looks at the interpersonal side of our tendency to avoid sunk costs.
A researcher takes a fresh look at why people often persist with an unpleasant or unprofitable endeavor because they don’t want the resources they’ve already invested to go to waste.
-
New Research From Psychological Science
A sample of new research exploring task rule implementation across development, statistical learning and transitive relations, and boundaries of the repulsion effect.
-
Graphic Warning Labels Linked to Reduced Sugary Drink Purchases
Warning labels that include photos linking sugary drink consumption with obesity, type 2 diabetes, and tooth decay may reduce purchases of the drinks, a field study shows.
-
New Research From Psychological Science
A sample of research exploring delay of gratification in children, visual darkness and perceived risk of disease, and the sunk-cost effect between people.