Improving Consumer Decisions By Reducing Connectedness With the Past Self: Low Past-Self-Continuity Can Attenuate Sunk Cost Bias

Interventions reducing consumers’ sense of connectedness to their past self can remedy sunk cost bias. Three studies using both mediation and moderation show that this is because consumers with low (vs. high) past-self-continuity anticipate feeling less regretful, guilty, and wasteful when abandoning a course of action after making significant investments.



Citation:

Anja Schanbacher, Nazli Gurdamar Okutur, and David Faro (2019) ,"Improving Consumer Decisions By Reducing Connectedness With the Past Self: Low Past-Self-Continuity Can Attenuate Sunk Cost Bias", in NA - Advances in Consumer Research Volume 47, eds. Rajesh Bagchi, Lauren Block, and Leonard Lee, Duluth, MN : Association for Consumer Research, Pages: 828-829.

Authors

Anja Schanbacher, Duke University, USA
Nazli Gurdamar Okutur, London Business School, UK
David Faro, London Business School, UK



Volume

NA - Advances in Consumer Research Volume 47 | 2019



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