Saturday, July 12, 2008

Who's more likely to walk out of a bad movie? Young or old?

Psychology researchers from West Virginia University wondered whether age has anything to do with whether people decide to to spend more time or money on something in which they've already sunk some cash. So they recruited 75 college students, ages 18 to 27, and 73 older adults ages 58 to 91 and presented them with two pairs of vignettes.
The report is in the curent issue of the journal Psychological Science. "Are Older Adults Less Subject to the Sunk-Cost Fallacy Than Younger Adults?" JoNell Strough, Clare M. Mehta, Joseph P. McFall, and Kelly L. Schuller

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