The sunk cost fallacy is the tendency to continue an endeavour once an investment in money, effort, or time has been made. We studied how people's chronic orientation to cope with failing projects (i.e., action vs. state orientation) influences the occurrence of this sunk cost effect. We found...

In the current paper we investigate how feedback over decision outcomes may affect future decisions. In an experimental study we demonstrate that if people receive feedback over the outcomes they obtained (``factual outcomes'') and the outcomes they would have obtained had they decided...

Attractive bonuses and large discounts are often successfully used to attract new customers and increase sales. However, from a marketing perspective these attractive opportunities might have a negative side effect, as they decrease subsequent sales to the consumers who missed them. In this...

The present research examines whether or not endowment asymmetry leads those with many endowments to contribute more than those with few endowments towards the public good (i.e., a first-order dilemma), but also towards the implementation of a sanctioning system (i.e., a second-order dilemma)....