Vince buys tickets to a concert for his girlfriend, Jennifer. Two weeks before the show, the couple split up. Vince decides to go to the concert anyway even though he doesn't really like the band. "I paid the money, so I might as well go," he says. Vince's decision demonstrates the ____ principle.

Question

Quizplus · Accepted Answer

Vince's decision is based on the sunk cost fallacy, which occurs when people continue a behavior or endeavor as a result of previously invested resources (time, money, or effort), even if they no longer want to or the outcome is not beneficial.

Vince Buys Tickets to a Concert for His Girlfriend, Jennifer