Mehmet and semra went to a movie but were soon bored with it. semra wanted to leave. mehmet did not want to leave because they had already paid for their tickets, which would be wasted if they left before the movie was over. what psychological factor associated with behavioral economics explains mehmet's behavior? altruism overconfidence a framing bias a sunk cost fallacy

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Social Studies

Simeon

16 February, 20:35

Mehmet and semra went to a movie but were soon bored with it. semra wanted to leave. mehmet did not want to leave because they had already paid for their tickets, which would be wasted if they left before the movie was over. what psychological factor associated with behavioral economics explains mehmet's behavior? altruism overconfidence a framing bias a sunk cost fallacy

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Toby Becker · Answer 1

The answer is sunk cost fallacy. The sunk cost is dissimilar from economic loss. It may likewise be used as a mistake in breakdown because of the sunk cost fallacy, illogical decision-making or just, as unrelated data. Economists contend that sunk costs are not in use into when creating rational choices.