Cover Image
QR Code

THE EVOLUTIONARY LOGIC OF HONORING SUNK COSTS.

Although economics claims that sunk costs should not figure in current decision-making, there is ample evidence to suggest that people squander resources by honoring bygones. We argue that such wastage of resources was tolerated in our evolutionary past by Nature because it served fitness-enhancing...

Full description

Published in:Economic Inquiry Vol. 54; no. 2; pp. 835 - 847
Main Authors: Eswaran, Mukesh, Neary, Hugh M.
Format: Article
Published: Wiley-Blackwell Apr2016
Subjects:
Cognitive dissonance
Social psychology
Self-perception
Economics
Economic decision making
Sunk costs
Prefrontal cortex
Online Access:View this record in EBSCOhost

Internet

View this record in EBSCOhost