The Sunk Cost Effect with Pigeons: Some Determinants of Decisions about Persistence
Saved in:
| Title: | The Sunk Cost Effect with Pigeons: Some Determinants of Decisions about Persistence |
|---|---|
| Language: | English |
| Authors: | Macaskill, Anne C., Hackenberg, Timothy D. |
| Source: | Journal of the Experimental Analysis of Behavior. Jan 2012 97(1):85-100. |
| Availability: | Society for the Experimental Analysis of Behavior. Available from: Indiana University Department of Psychology. Bloomington, IN 47405-1301. Tel: 812-334-0395; FAX: 812-855-4691; e-mail: jeab@indiana.edu; Web site: http://seab.envmed.rochester.edu/jeab/index.html |
| Peer Reviewed: | Y |
| Physical Description: | |
| Page Count: | 16 |
| Publication Date: | 2012 |
| Document Type: | Journal Articles Reports - Research |
| Descriptors: | Persistence, Costs, Investment, Decision Making, Animals |
| ISSN: | 0022-5002 |
| Abstract: | The sunk cost effect occurs when an individual persists following an initial investment, even when persisting is costly in the long run. The current study used a laboratory model of the sunk cost effect. Two response alternatives were available: Pigeons could persist by responding on a schedule key with mixed ratio requirements, or escape by responding on a second key. In Experiment 1, mean response requirements for persistence and escape were varied across conditions. Pigeons persisted (committing the sunk cost error) when persisting increased the mean response requirement only slightly but not when persisting was sufficiently nonoptimal. Experiment 2 explored more systematically combinations of ratios and probabilities assigned to the schedule key. Persistence varied with the ratio of the mean global response requirements for persistence and escape. In Experiment 3, transitions between ratios were signaled. This reduced nonoptimal persistence, and produced some instances of a reverse sunk cost error--escaping when persistence was optimal. In Experiment 4, it was optimal to escape after the second-smallest ratio ever presented. Pigeons escaped at approximately the optimal juncture, especially in conditions with added signals. Overall, this series of experiments suggests that the sunk cost error may arise in part because persistence is the default behavioral strategy in situations where the contingencies for escape and persistence are insufficiently disparate and/or it is relatively difficult to discriminate when to escape. The study also demonstrates the utility of animal models of complex decision making situations. (Contains 6 tables and 6 figures.) |
| Abstractor: | As Provided |
| Number of References: | 13 |
| Entry Date: | 2012 |
| Access URL: | https://seab.envmed.rochester.edu/jeab/toc/2012/jeabjan12.php |
| Accession Number: | EJ980424 |
| Database: | ERIC |
| FullText | Text: Availability: 0 |
|---|---|
| Header | DbId: eric DbLabel: ERIC An: EJ980424 AccessLevel: 3 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
| IllustrationInfo | |
| Items | – Name: Title Label: Title Group: Ti Data: The Sunk Cost Effect with Pigeons: Some Determinants of Decisions about Persistence – Name: Language Label: Language Group: Lang Data: English – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Macaskill%2C+Anne+C%2E%22">Macaskill, Anne C.</searchLink><br /><searchLink fieldCode="AR" term="%22Hackenberg%2C+Timothy+D%2E%22">Hackenberg, Timothy D.</searchLink> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="SO" term="%22Journal+of+the+Experimental+Analysis+of+Behavior%22"><i>Journal of the Experimental Analysis of Behavior</i></searchLink>. Jan 2012 97(1):85-100. – Name: Avail Label: Availability Group: Avail Data: Society for the Experimental Analysis of Behavior. Available from: Indiana University Department of Psychology. Bloomington, IN 47405-1301. Tel: 812-334-0395; FAX: 812-855-4691; e-mail: jeab@indiana.edu; Web site: http://seab.envmed.rochester.edu/jeab/index.html – Name: PeerReviewed Label: Peer Reviewed Group: SrcInfo Data: Y – Name: PhysDesc Label: Physical Description Group: PhysDesc Data: PDF – Name: Pages Label: Page Count Group: Src Data: 16 – Name: DatePubCY Label: Publication Date Group: Date Data: 2012 – Name: TypeDocument Label: Document Type Group: TypDoc Data: Journal Articles<br />Reports - Research – Name: Subject Label: Descriptors Group: Su Data: <searchLink fieldCode="DE" term="%22Persistence%22">Persistence</searchLink><br /><searchLink fieldCode="DE" term="%22Costs%22">Costs</searchLink><br /><searchLink fieldCode="DE" term="%22Investment%22">Investment</searchLink><br /><searchLink fieldCode="DE" term="%22Decision+Making%22">Decision Making</searchLink><br /><searchLink fieldCode="DE" term="%22Animals%22">Animals</searchLink> – Name: ISSN Label: ISSN Group: ISSN Data: 0022-5002 – Name: Abstract Label: Abstract Group: Ab Data: The sunk cost effect occurs when an individual persists following an initial investment, even when persisting is costly in the long run. The current study used a laboratory model of the sunk cost effect. Two response alternatives were available: Pigeons could persist by responding on a schedule key with mixed ratio requirements, or escape by responding on a second key. In Experiment 1, mean response requirements for persistence and escape were varied across conditions. Pigeons persisted (committing the sunk cost error) when persisting increased the mean response requirement only slightly but not when persisting was sufficiently nonoptimal. Experiment 2 explored more systematically combinations of ratios and probabilities assigned to the schedule key. Persistence varied with the ratio of the mean global response requirements for persistence and escape. In Experiment 3, transitions between ratios were signaled. This reduced nonoptimal persistence, and produced some instances of a reverse sunk cost error--escaping when persistence was optimal. In Experiment 4, it was optimal to escape after the second-smallest ratio ever presented. Pigeons escaped at approximately the optimal juncture, especially in conditions with added signals. Overall, this series of experiments suggests that the sunk cost error may arise in part because persistence is the default behavioral strategy in situations where the contingencies for escape and persistence are insufficiently disparate and/or it is relatively difficult to discriminate when to escape. The study also demonstrates the utility of animal models of complex decision making situations. (Contains 6 tables and 6 figures.) – Name: AbstractInfo Label: Abstractor Group: Ab Data: As Provided – Name: Ref Label: Number of References Group: RefInfo Data: 13 – Name: DateEntry Label: Entry Date Group: Date Data: 2012 – Name: URL Label: Access URL Group: URL Data: <link linkTarget="URL" linkTerm="https://seab.envmed.rochester.edu/jeab/toc/2012/jeabjan12.php" linkWindow="_blank">http://seab.envmed.rochester.edu/jeab/toc/2012/jeabjan12.php</link> – Name: AN Label: Accession Number Group: ID Data: EJ980424 |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=EJ980424 |
| RecordInfo | BibRecord: BibEntity: Languages: – Text: English PhysicalDescription: Pagination: PageCount: 16 StartPage: 85 Subjects: – SubjectFull: Persistence Type: general – SubjectFull: Costs Type: general – SubjectFull: Investment Type: general – SubjectFull: Decision Making Type: general – SubjectFull: Animals Type: general Titles: – TitleFull: The Sunk Cost Effect with Pigeons: Some Determinants of Decisions about Persistence Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Macaskill, Anne C. – PersonEntity: Name: NameFull: Hackenberg, Timothy D. IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 01 Type: published Y: 2012 Identifiers: – Type: issn-print Value: 0022-5002 Numbering: – Type: volume Value: 97 – Type: issue Value: 1 Titles: – TitleFull: Journal of the Experimental Analysis of Behavior Type: main |
| ResultId | 1 |
