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452

Sunk cost effects for time versus money: Replication and extensions Registered Report of Soman (2001)use asterix (*) to get italics
Nikolay PETROV, Yin Kan (Megan) CHAN, Cheuk Nam (Chris) LAU, Tin Ho (Donald) KWOK, Lok Ching (Estelle) CHOW, Wai Yan (Vivian) LO, Wenkai SONG, Gilad FELDMANPlease use the format "First name initials family name" as in "Marie S. Curie, Niels H. D. Bohr, Albert Einstein, John R. R. Tolkien, Donna T. Strickland"
2023
<p>The sunk cost effect is the tendency for an individual's decision-making to be impacted by unrecoverable previous investments of resources. Soman (2001) found that sunk cost effect is weaker for time than for money (Studies 1 and 2) and that the facilitation of money-like accounting strengthens the sunk cost effect for time (Study 5). We conducted a Registered Report of a close, high-powered, replication and extension of Soman (2001)’s Studies 1 and 2 and a conceptual replication of his Study 5 with an online sample of US American Amazon Mechanical Turk (N = 821). We found support for differences between sunk money costs and sunk time costs in Study 1 (original: φc = .61 [.43, .78]; replication: φc = .38 [.31, .45]), yet not in Study 2 in which we found sunk cost effects for both money and time (original: money - φc = .32 [.12, .52], time - φc = .02 [.00, .18]; replication: money - φc = .23 [.14, .33] , time - φc = .32 [.23, .42]). In Study 5, we found no support for facilitation of money-like accounting as strengthening the sunk time cost effect. Materials, data, and code are available on: https://osf.io/pm264/</p>
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judgment and decision-making, sunk cost, escalation of commitment, time, money, opportunity cost
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Social sciences
No need for them to be recommenders of PCI Registered Reports. Please do not suggest reviewers for whom there might be a conflict of interest. Reviewers are not allowed to review preprints written by close colleagues (with whom they have published in the last four years, with whom they have received joint funding in the last four years, or with whom they are currently writing a manuscript, or submitting a grant proposal), or by family members, friends, or anyone for whom bias might affect the nature of the review - see the code of conduct
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2023-04-18 20:57:24
Chris Chambers