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Sunk Cost Effect

Marko BOKULIĆ ; Sveučilište u Regensburgu, Regensburg
Kosta BOVAN ; Zagreb

Puni tekst: hrvatski, pdf (213 KB) str. 347-366 preuzimanja: 1.176* citiraj
APA 6th Edition
BOKULIĆ, M. i BOVAN, K. (2013). Efekt nepovratnoga troška. Društvena istraživanja, 22 (2), 347-366.
MLA 8th Edition
BOKULIĆ, Marko i Kosta BOVAN. "Efekt nepovratnoga troška." Društvena istraživanja, vol. 22, br. 2, 2013, str. 347-366. Citirano 25.02.2021.
Chicago 17th Edition
BOKULIĆ, Marko i Kosta BOVAN. "Efekt nepovratnoga troška." Društvena istraživanja 22, br. 2 (2013): 347-366.
BOKULIĆ, M., i BOVAN, K. (2013). 'Efekt nepovratnoga troška', Društvena istraživanja, 22(2), str. 347-366.
BOKULIĆ M, BOVAN K. Efekt nepovratnoga troška. Društvena istraživanja [Internet]. 2013 [pristupljeno 25.02.2021.];22(2):347-366.
M. BOKULIĆ i K. BOVAN, "Efekt nepovratnoga troška", Društvena istraživanja, vol.22, br. 2, str. 347-366, 2013. [Online].

Normative economic principles, as described in the theory of rational choice, assume that we base our decisions solely on future gains and losses. However, the results of several lines of research show that our decisions are influenced by sunk costs, past investments that are not redeemable. This phenomenon is called the sunk cost effect and it comes in two forms. In choice dilemmas we want to use what we have paid disregarding possible additional costs. When deciding whether to continue an investment, people tend to financially support a failing project. In this paper, both types of sunk cost effects are described and results of relevant research are reviewed, as well as the methodology and criticisms of this research. Furthermore, the differences between economic and psychological theories are considered. In the end, the practical implications of this research for the managerial domain are mentioned.

Ključne riječi
sunk cost effect; choice dilemma; escalation of commitment; judgment and decision making; behavioral economics

Hrčak ID: 105466



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