The Psychology of Waste
Bibliographic Data
| ID | 12166558 |
|---|---|
| Authors | Hal R Arkes (0000-0003-1448-095X, Ohio University, corresponding author) |
| Year | 1996 |
| Volume | 9 |
| Issue | 3 |
| Pages | 213-224 |
| Publication date | 1996-09-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Behavioral Decision Making (JOURNAL) |
| Journal identifiers | ISSN: 0894-3257 • E-ISSN: 1099-0771 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/(sici)1099-0771(199609)9:3<213::aid-bdm230>3.0.co;2-1 |
| OpenAlex | W2165581806 |
| Language | EN |
| Citations received | 25 |
| References cited | 10 |
In order to avoid the appearance of wastefulness people may be motivated to make choices that compromise their own self-interest. In Experiment 1 subjects learned that Mr Munn didn't take advantage of a ‘three-pack’ which would have enabled him to see three movies for $12, the regular price being $5 per movie. Most subjects predicted that after having attended two movies at the regular price, Mr Munn would then be unwilling to purchase a ticket to attend a potentially enjoyable third movie, either because he would consider such a purchase to be wasteful or because he would be angry at having eschewed the ‘three-pack’. In Experiment 2 subjects who could use an obsolete product to ‘trade-up’ to a new model were more likely to buy the new model than were subjects who could purchase it at the identical low price. It was hypothesized that utilizing an obsolete product to obtain a new model would seem less wasteful than making an outright purchase of the new model. In Experiment 3 a large majority of subjects faced with a sunk cost situation persevered with the failing project if the alternative was selling the material ‘for its scrap value’. However, if the alternative consisted of selling the materials for an identical price to someone who could use them, then subjects were less likely to persevere with the failing project. Marketing implications and the propriety of retrospective evaluation of prior decisions were also discussed
Advertising · Business · Compromise · Economics · Microeconomics · Order (exchange · Product (mathematics · Scrap · Sociology · Sunk costs · Ticket · Value (mathematics · Computer Science · Decision-Making and Behavioral Economics · Economic and Environmental Valuation · Engineering · Neural and Behavioral Psychology Studies · Psychology · Marketing
The Evolutionary Basis of Rigidity
Overexploitation of Renewable Resources by Ancient Societies and the Role of Sunk-Cost Effects
Progress Decisions Involving Time
The sunk cost and Concorde effects
Waste management
Sunk-cost judgments across the child to adult lifespan
Acting Wastefully but Feeling Satisfied
The sunk‐time effect
Cooperation and coordination across cultures and contexts
No Time to Waste
How young children come to recommend resource choices that reduce waste
Sunk costs in the NBA
When the cost has sunk
Decision-maker beliefs and the sunk-cost fallacy
How promotional frames affect upgrade intentions
Effectiveness of trade-ins and price discounts
Consumer Response to Versioning
Emotions before actions
Sunk cost effects for thee but not for me
Judgment and Decision Making
Disorder and Downsizing
How Do Consumers React to Production Waste
Beyond the Mere Ownership and Endowment Effects
The role of probability of success estimates in the sunk cost effect
Behavioral Investments in the Short Term Fail to Produce a Sunk Cost Effect
| Unique citing works | 25 |
|---|---|
| Citations per year | 0,93 |
| Citation span | 1999 - 2025 (27) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 20 |