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



Share Proceeding

Featured papers

See More

Featured

The “Upper Limit Framing” Effect: Upper Limit Framing of a Cost Estimate Influences Consumption Choices

Sudipta Mukherjee, Virginia Tech, USA
Frank May, Virginia Tech, USA

Read More

Featured

N14. The Bright Side of Sadness: How Mood Affects Goal Initiation

Yunqing Chen, Chinese University of Hong Kong, China
Leilei Gao, Chinese University of Hong Kong, China

Read More

Featured

L14. Christmas Decorations in September – What Happened to Halloween? The Effect of Prospective Event Markers on Time Perceptions and Attitudes Towards Promotions

Chaumanix Dutton, University of Southern California, USA
Kristin Diehl, University of Southern California, USA

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.