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RSS FeedsSticking with the wrong choice
(PHYSorg.com Biology)

 
 

13 july 2018 17:14:39

 
Sticking with the wrong choice
(PHYSorg.com Biology)
 


The behavior of people who remain committed to a choice, even when it is clear that an alternate choice would be a better option, has been a perplexing phenomenon to psychologists and economists. For example, people will continue to wait in the slow line at a grocery store, stick out an unhealthy relationship, or refuse to abandon an expensive, wasteful project-all because such individuals have already invested time, effort, or money. This well-known cognitive phenomenon termed the `sunk cost fallacy` has long been considered a problem unique to humans. New research has discovered that humans are not the only species that share these economically irrational flaws.


 
8 viewsCategory: Science > Biology
 
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