You can either take the bus or a taxi to your friend's house, and you decide on the bus. After waiting at the bus stop for fifteen minutes, a taxi passes by, but you continue to wait for the bus, having waited so long already. Your decision is influenced by the

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Quizplus · Accepted Answer

The sunk cost effect is the tendency to continue investing in a decision, even if it's no longer the best option, because of the resources already invested. In this scenario, the person has already invested time in waiting for the bus and doesn't want to waste that time by switching to a taxi. Therefore, the decision to continue waiting for the bus is influenced by the sunk cost effect.

You Can Either Take the Bus or a Taxi to Your