The Sunk-Time Effect: An Exploration.

ABSTRACT

We explored the potential for a sunk-cost effect in the realm of time. Questionnaire studies (Experiments 1-4) obtained a sunk-time effect that was robust to manipulations of prospective value, individual versus group consequences, and the effort or enjoyment inherent in the time. Behavioral experiments (Experiments 5-7) also suggested a sunk-time effect and found support for a personal responsibility by sunk cost interaction on choice behavior. We discuss theoretical implications and a potential connection to animal sunk cost phenomena.