On sunk time versus sunk money, and the registered-report replication in the International Review of Social Psychology, doi:10.5334/irsp.883. Cited for the volatility of sunk time effects
Petrov and colleagues ran a registered, high-powered replication of a well-known set of studies claiming that sunk costs of time affect people less than sunk costs of money, on the reasoning that time is harder to account for precisely. With more than eight hundred participants, the results are mixed in an instructive way. The first study replicated: a difference between sunk money and sunk time appeared, though smaller than originally reported. The second did not: sunk cost effects appeared for both money and time, with the effect for time as large as the one for money, where the original had found almost nothing for time. And the extension failed: making time easier to account for in money-like terms did not strengthen the effect as the original had found. The honest summary is that the claim holds in one design and not in another. This vault cites it whenever the time-versus-money distinction is asserted.
Petrov and colleagues ran a registered, high-powered replication of a well-known set of studies claiming that sunk costs of time affect people less than sunk costs of money, on the reasoning that time is harder to account for precisely. With more than eight hundred participants, the results are mixed in an instructive way. The first study replicated: a difference between sunk money and sunk time appeared, though smaller than originally reported. The second did not: sunk cost effects appeared for both money and time, with the effect for time as large as the one for money, where the original had found almost nothing for time. And the extension failed: making time easier to account for in money-like terms did not strengthen the effect as the original had found. The honest summary is that the claim holds in one design and not in another. This vault cites it whenever the time-versus-money distinction is asserted.
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Soman, D. (2001). On sunk time versus sunk money, and the registered-report replication in the International Review of Social Psychology, doi:10.5334/irsp.883. Cited for the volatility of sunk time effects. Listing only.
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- Why You Finish the Series You Stopped Enjoying, Why We Act
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The source
https://doi.org/10.5334/irsp.883
DOI: 10.5334/irsp.883