AGE DIFFERENCES IN SUNK COST DECISIONS FOR ONESELF VERSUS A LOVED ONE
JoNell Strough, Wändi Bruine de Bruin, Andrew Parker · 2023
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Description
JoNell Strough, Wandi Bruine de Bruin, and Andrew Parker study sunk cost choices in a 2023 paper. People often keep pouring effort into a failing project just because they already invested in it. Older adults are known to resist that trap more than younger ones when deciding for themselves.
Real choices, though, often affect loved ones. The survey of 1,075 adults asked about failing projects meant for oneself or for a loved one, with money or time at stake. Age, beneficiary, and stake type were all weighed. When the project was for oneself, people at all ages were less willing to quit than the classic picture suggests, the results hint.
Catalog record
| CREATOR | JoNell Strough, Wändi Bruine de Bruin, Andrew Parker |
|---|---|
| YEAR | 2023 |
| COLLECTION | PAPERS |
| FORMAT | TXT |
| FILE SIZE | 1 KB |
| VERSION | 1.0 |
| LICENSE | CC BY 4.0 |
| RIGHTS | CC BY |
| SOURCE | Europe PMC |