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Huangqi Jiang Dissertation.pdf (1.12 MB)

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Psychological Distances and Sunk Cost Fallacy

Jiang, Huangqi
http://rave.ohiolink.edu/etdc/view?acc_num=case1671249502379794

Abstract Details

2022, Doctor of Philosophy, Case Western Reserve University, Psychology.
In what circumstances will we fall prey to the sunk cost fallacy? Based on construal level theory, the present research investigated psychological distances (proximal vs. distal) as moderators that influence people’s decision making with sunk costs. I ran a series of studies to test the effects of different types of psychological distances (spatial, temporal, social, and hypothetical) on sunk cost fallacy using scenario-based questions. I found significant but weak evidence that psychological distance may impact decision-making processes when sunk cost is involved. However, participants’ construal level was not measurably altered by psychological distance condition. Despite the weak behavioral evidence, I followed up on these studies to test whether psychological distances altered implicit decision-making processes. In this follow-up study, I manipulated sunk costs and spatial psychological distance. I then applied participants’ reaction times and decisions to a Diffusion Decision Model (DDM). In this model, I decomposed the underlying processes of decision making with sunk cost by comparing proximal and distal psychological distance conditions. Though the behavioral results did not show explicit differences in sunk cost fallacy between these two conditions, participants tended to respond faster in distal conditions. Further, the DDM suggested that the narrow threshold for evidence accumulation can be predicted by the differences between proximal and distal conditions. This work advances our understanding of psychological distances and decision making with sunk cost.
Brooke Macnamara (Committee Chair)
Mark Turner (Committee Member)
Anastasia Dimitropoulos (Committee Member)
Heath Demaree (Committee Member)
93 p.
Cognitive Psychology
Psychological Distances, Sunk Cost Fallacy, Construal Level, Diffusion Decision Model

Recommended Citations

Citations

  • Jiang, H. (2022). Psychological Distances and Sunk Cost Fallacy [Doctoral dissertation, Case Western Reserve University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=case1671249502379794

    APA Style (7th edition)

  • Jiang, Huangqi. Psychological Distances and Sunk Cost Fallacy. 2022. Case Western Reserve University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=case1671249502379794.

    MLA Style (8th edition)

  • Jiang, Huangqi. "Psychological Distances and Sunk Cost Fallacy." Doctoral dissertation, Case Western Reserve University, 2022. http://rave.ohiolink.edu/etdc/view?acc_num=case1671249502379794

    Chicago Manual of Style (17th edition)

case1671249502379794
140
© 2022, all rights reserved.
This open access ETD is published by Case Western Reserve University School of Graduate Studies and OhioLINK.