Sunk Search Costs and the Perceived Value of Information

Nathan Fong, Temple University, USA
SangSuk Yoon, Temple University, USA
How does the cost of acquiring information affect the degree to which a decision maker relies on the associated information? We demonstrate the existence of a sunk search cost effect, by which decision makers put more weight on costly information, even when the costs are transparently arbitrary.
[ to cite ]:
Nathan Fong and SangSuk Yoon (2014) ,"Sunk Search Costs and the Perceived Value of Information", in NA - Advances in Consumer Research Volume 42, eds. June Cotte and Stacy Wood, Duluth, MN : Association for Consumer Research, Pages: 784-784.