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Related Experiment Video

Updated: Jun 17, 2026

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

Published on: August 25, 2023

The Sunk-Time Effect: An Exploration.

Anton D Navarro¹, Edmund Fantino

¹University of California San Diego.

Journal of Behavioral Decision Making

|December 29, 2009

Summary

This summary is machine-generated.

People irrationally continue investing time due to past investments, a phenomenon termed the sunk-time effect. This effect persists regardless of future outcomes or the nature of the time spent.

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Area of Science:

Psychology
Behavioral Economics

Background:

The sunk-cost fallacy typically applies to monetary investments.
Its application to time investments remains less explored.

Purpose of the Study:

To investigate the existence and robustness of a sunk-cost effect related to time investments.
To examine factors influencing this sunk-time effect.

Main Methods:

Four questionnaire-based studies (Experiments 1-4) examined the sunk-time effect under varying conditions.
Three behavioral experiments (Experiments 5-7) further explored the effect and its interaction with personal responsibility.

Main Results:

A consistent sunk-time effect was observed across questionnaire studies.
Behavioral experiments supported the sunk-time effect and revealed an interaction between personal responsibility and sunk costs influencing choices.
The effect remained significant despite changes in prospective value, consequences (individual vs. group), and the nature of the time invested (effortful vs. enjoyable).

Conclusions:

The sunk-cost effect extends to time investments, demonstrating a robust psychological phenomenon.
Personal responsibility plays a crucial role in moderating the impact of sunk time on decision-making.
Findings suggest potential parallels with sunk-cost phenomena observed in animal behavior.