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Age Differences of sunk-cost fallacy in Different Domains and Dimensions:The Moderating Role of Temporal Horizon

Age Differences of Sunk-Cost Fallacy in Different Domains an...

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第二十一届全国心理学学术会议

作者： Yi Huang Maureen Yong Mu Ling Rongjun Yu NUS Graduate School for Integrative Sciences and Engineering National University of Singapore

Prior research indicates that older adults are less subject to the sunk-cost fallacy(SCF), which occurs when retrospective investments irrationally influence decisions regarding future investments(Strough, Mehta, McFall, & Schuller, 2008;Strough, Schlosnagle, & DiDonato, 2011). the current research aims to investigate the association between chronological age and SCF in the contexts of decision domains(social and nonsocial) and prior investment dimension(time and money). We also included temporal horizons and rumination avoidance as possible mediators to examine the underlying mechanisms of age on SCF. 110 participants were recruited in this study, of which there were 54 older adults(33 females;age M = 69.8 years, SD = 5.24;education M = 9.58 years, SD = 2.89) and 56 young adults(34 females;age M = 21.5 years, SD = 1.68;education M = 14.7 years, SD = 1.66). Participants were required to complete a serial of questionnaire, which consisted of decision-making vignettes from the Everyday Decisions Questionnaire, "filler" items which assessed other types of decisions, Future Time Perspective(FTP) scale(Carstensen & Lang, 1996), and the 10-item Rumination Response Scale(RRS-10)(Treynor, Gonzalez, & Nolen-Hoeksema, 2003). Results showed that older age is associated with reduced sunk-cost fallacy regarding social relationships and prior time investments. Moreover, this association could be mediated by more restricted temporal horizon in older adults. Our findings support a theoretical causal relationship between temporal horizons and sunk-cost fallacy: older adults are less susceptible to the sunk-cost fallacy of social-time investments than younger adults could be explained by that older adults have more restricted temporal horizons.

关键词： sunk-cost fallacy aging temporal horizon decision-making

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