Opportunity Cost Neglect in Goal Pursuit Under Uncertainty

Derek Koehler, University of Waterloo, Canada
Cade Massey, University of Pennsylvania, USA
How do people decide whether to abandon a goal when its achievability is uncertain? Participants in several studies were found to over-persist in the pursuit of immediate goals, foregoing the benefits of alternative pursuits. Abandoning potentially profitable goals is apparently difficult even when high opportunity costs make doing so optimal.
[ to cite ]:
Derek Koehler and Cade Massey (2012) ,"Opportunity Cost Neglect in Goal Pursuit Under Uncertainty", in NA - Advances in Consumer Research Volume 40, eds. Zeynep G├╝rhan-Canli, Cele Otnes, and Rui (Juliet) Zhu, Duluth, MN : Association for Consumer Research, Pages: 246-249.