tao Posted July 15, 2018 Share Posted July 15, 2018 Summary: People routinely make bad decisions. Far from being random, however, these bad decisions are often predictable, occurring reliably in specific contexts (1–3). One set of such suboptimal decisions are cognitive biases, wherein individuals make decisions that predictably violate rationality or their own best interests without a logical reason for doing so (4). One such bias is the sunk cost bias, in which individuals invest more time or resources in an outcome than it is worth given the potential gain, presumably because they focus on hindsight evaluation of irrecoverable costs rather than prospective gains (5). On page 178 of this issue, Sweis et al. (6) report a clever experiment demonstrating the sunk cost bias in rats, mice, and humans. The findings also provide insight into why results from previous studies have been so variable. http://www.sciencemag.org/about/science-licenses-journal-article-reuse This is an article distributed under the terms of the Science Journals Default License. < Here > Link to comment Share on other sites More sharing options...
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