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Sunk Cost

The sunk cost fallacy is manifested when we have a greater tendency to continue an endeavour once an investment in money, effort or time has been made.

Top 10 Papers

1. ARKES, H.R. and C. BLUMER, 2000. 6 The Psychology of Sunk Cost. Judgment and Decision Making: An Interdisciplinary Reader. [Cited by 474] (59.05/year)
2. BALDWIN, R., 1989. Sunk-Cost Hysteresis. [Cited by 51] (2.68/year)
3. ARKES, H.R. and P. AYTON, 1999. The sunk cost and Concorde effects: Are humans less rational than lower animals. Psychological Bulletin. [Cited by 91] (10.08/year)
4. KANODIA, C., R. BUSHMAN and J. DICKHAUT, 1989. Escalation errors and the sunk cost effect: An explanation based on reputation and information …. Journal of Accounting Research. [Cited by 62] (3.26/year)
5. MOON, H., 2001. Looking forward and looking back: Integrating completion and sunk-cost effects within an escalation- …. Journal of Applied Psychology. [Cited by 31] (4.41/year)
6. CHAVAS, J.P., 1994. Production and Investment Decisions Under Sunk Cost and Temporal Uncertainty. American Journal of Agricultural Economics. [Cited by 37] (2.64/year)
7. ZEELENBERG, M. and E. VAN, 1997. A reverse sunk cost effect in risky decision making: Sometimes we have too much invested to gamble. Journal of Economic Psychology. [Cited by 21] (1.90/year)
8. KEIL, M., D.P. TRUEX and R. MIXON, 1995. The effects of sunk cost and project completion on informationtechnology project escalation. Engineering Management, IEEE Transactions on. [Cited by 19] (1.46/year)
9. ROSENBAUM, D.I. and F. LAMORT, 1992. Entry, barriers, exit, and sunk costs: an analysis. Applied Economics. [Cited by 53] (3.31/year)
10. SOMAN, D. and A. CHEEMA, 2001. The Effect of Windfall Gains on the Sunk-Cost Effect. Marketing Letters. [Cited by 13] (1.85/year)

Links

• Wikipedia: Sunk cost
• InvestorWords.com: sunk cost Definition
• The Skeptic's Dictionary: sunk-cost fallacy

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