Rianna recently bought a book called "Experiments in Economics: Playing Fair with Money". A few pages into the book, she realized that the book was quite boring and not worth her time spent on reading it. However, Rianna thought: "I have spent the money buying the book. I might as well read through to the end." In doing so, Rianna is falling prey to:

Question

Quizplus · Accepted Answer

Rianna is exhibiting the sunk cost fallacy, which occurs when individuals continue a behavior or endeavor as a result of previously invested resources (time, money, or effort), even if they no longer want to continue. In this case, Rianna decides to continue reading the book simply because she has already spent money on it, not because she believes it will be beneficial or enjoyable.

Rianna Recently Bought a Book Called "Experiments in Economics: Playing