Sunk Search Costs and the Perceived Value of Information
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.
Citation:
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, Stacy Wood, and , Duluth, MN : Association for Consumer Research, Pages: 784-784.
Authors
Nathan Fong, Temple University, USA
SangSuk Yoon, Temple University, USA
Volume
NA - Advances in Consumer Research Volume 42 | 2014
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