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Psychological Distances and Sunk Cost Fallacy.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Psychological Distances and Sunk Cost Fallacy./
Author:	Jiang, Huangqi.
Description:	1 online resource (94 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-09, Section: A.
Contained By:	Dissertations Abstracts International84-09A.
Subject:	Cognitive psychology. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=30359675click for full text (PQDT)
ISBN:	9798371901132

Psychological Distances and Sunk Cost Fallacy.
Jiang, Huangqi.

Psychological Distances and Sunk Cost Fallacy. - 1 online resource (94 pages)

Source: Dissertations Abstracts International, Volume: 84-09, Section: A.

Thesis (Ph.D.)--Case Western Reserve University, 2022.

Includes bibliographical references

In what circumstances will we fall prey to the sunk cost fallacy? Based on construal level theory, the present research investigated psychological distances (proximal vs. distal) as moderators that influence people's decision making with sunk costs. I ran a series of studies to test the effects of different types of psychological distances (spatial, temporal, social, and hypothetical) on sunk cost fallacy using scenario-based questions. I found significant but weak evidence that psychological distance may impact decision-making processes when sunk cost is involved. However, participants' construal level was not measurably altered by psychological distance condition. Despite the weak behavioral evidence, I followed up on these studies to test whether psychological distances altered implicit decision-making processes. In this follow-up study, I manipulated sunk costs and spatial psychological distance. I then applied participants? reaction times and decisions to a Diffusion Decision Model (DDM). In this model, I decomposed the underlying processes of decision making with sunk cost by comparing proximal and distal psychological distance conditions. Though the behavioral results did not show explicit differences in sunk cost fallacy between these two conditions, participants tended to respond faster in distal conditions. Further, the DDM suggested that the narrow threshold for evidence accumulation can be predicted by the differences between proximal and distal conditions. This work advances our understanding of psychological distances and decision making with sunk cost.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2023

Mode of access: World Wide Web

ISBN: 9798371901132Subjects--Topical Terms:

523881
Cognitive psychology.
Subjects--Index Terms:

Psychological distancesIndex Terms--Genre/Form:

542853
Electronic books.

Psychological Distances and Sunk Cost Fallacy.
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500 $a Source: Dissertations Abstracts International, Volume: 84-09, Section: A.
502 $a Thesis (Ph.D.)--Case Western Reserve University, 2022.
504 $a Includes bibliographical references
520 $a In what circumstances will we fall prey to the sunk cost fallacy? Based on construal level theory, the present research investigated psychological distances (proximal vs. distal) as moderators that influence people's decision making with sunk costs. I ran a series of studies to test the effects of different types of psychological distances (spatial, temporal, social, and hypothetical) on sunk cost fallacy using scenario-based questions. I found significant but weak evidence that psychological distance may impact decision-making processes when sunk cost is involved. However, participants' construal level was not measurably altered by psychological distance condition. Despite the weak behavioral evidence, I followed up on these studies to test whether psychological distances altered implicit decision-making processes. In this follow-up study, I manipulated sunk costs and spatial psychological distance. I then applied participants? reaction times and decisions to a Diffusion Decision Model (DDM). In this model, I decomposed the underlying processes of decision making with sunk cost by comparing proximal and distal psychological distance conditions. Though the behavioral results did not show explicit differences in sunk cost fallacy between these two conditions, participants tended to respond faster in distal conditions. Further, the DDM suggested that the narrow threshold for evidence accumulation can be predicted by the differences between proximal and distal conditions. This work advances our understanding of psychological distances and decision making with sunk cost.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2023
538 $a Mode of access: World Wide Web
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653 $a Diffusion decision model
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