191k views
5 votes
When you keep eating the food you don't like precisely because you already bought the food, you are committing _____________.

a. availability heuristics bias
b. endowment effect bias
c. zero risk bias
d. sunk-cost fallacy

1 Answer

0 votes

The correct answer is D. Sunk-cost fallacy

Step-by-step explanation:

The term "sunk-cost" refers to a cost or investment of money, time, etc. that cannot be recovered. For example, if you buy ice cream there is a sunk-cost because the money you paid cannot be recovered. Besides this, sunk-cost fallacy occurs when the time or money invested influences the way you behave and act, which leads to irrational decisions or behaviors.

The case presented is an example of this, because you keep eating food you do not like because you have spent money on it; which means, the money you spend makes you act irrationally. Additionally, this occurs because even when the money has been already spent and cannot be recovered by rejecting the food you might feel the cost was not worthy.

User Fruggiero
by
3.4k points