MLA 8 Adhikari, Bigyan, et al. "Sunk Cost Fallacy: Why We Miss Opportunities and How to Make Rational Decisions." Int. j. of Social Science and Economic Research, vol. 9, no. 12, Dec. 2024, pp. 6017-6052, doi.org/10.46609/IJSSER.2024.v09i12.025. Accessed Dec. 2024.
APA 6 Adhikari, B., Agrawal, S., & Baral, S. (2024, December). Sunk Cost Fallacy: Why We Miss Opportunities and How to Make Rational Decisions. Int. j. of Social Science and Economic Research, 9(12), 6017-6052. Retrieved from https://doi.org/10.46609/IJSSER.2024.v09i12.025
Chicago Adhikari, Bigyan, Saaket Agrawal, and Subhav Baral. "Sunk Cost Fallacy: Why We Miss Opportunities and How to Make Rational Decisions." Int. j. of Social Science and Economic Research 9, no. 12 (December 2024), 6017-6052. Accessed December, 2024. https://doi.org/10.46609/IJSSER.2024.v09i12.025.
References [1] . [1] P.R Joshi, “Sunk cost fallacy in politics: Alternative voices being marginalized,” The Himalayan Times, Nepal, 2023
[2] . G. Falchetta, “The Sunk Cost Fallacy: A Literature Review and an Empirical Test,” Free University of Bolzano-Bozen, Italy, 2015
[3] . M.Camelo, Natalia, “To Switch Or To Stick? : A Non-Monetary Sunk Cost Lab Experiment,” Universidad de los Andes, Colombia, 2019
[4] . K.A Dijkstra, Y.Y. Hong, “The Feeling of Throwing Good Money After Bad: The Role of Affective Reaction In The Sunk-Cost Fallacy,” PLoS ONE 14(1), 2019
[5] . C. Wang, X. Zeng, “Transferable Sunk Cost Hypothesis: A New Analysis of Sunk Cost Fallacy,” SSRN Electronic Journal, 2019
[6] . R.D. Cicco, “Sunk Cost Effect: The Concorde Failure,” Behavioral Economics, 2021
ABSTRACT: This paper investigates the influence of the sunk cost fallacy on Nepal’s socio-political
environment, particularly its impact on both government projects and everyday decisions made
by Nepali citizens. We conducted three surveys, each with 200 participants, to assess how social,
economic, political, and religious factors shape this cognitive bias in Nepal. Along with this, we
found various studies from Nepali scholars- which we then examined and compiled to provide a
comprehensive perspective on how the sunk cost fallacy affects choices made by various sociopolitical groups. Our findings reveal that the deeply ingrained socio-cultural norms and
economic uncertainties in Nepal amplify the sunk cost fallacy, leading individuals and
institutions to persist with suboptimal decisions despite significant losses. This intricate
relationship between socioeconomic circumstances and cognitive biases is clarified by this study,
providing insights into the wider ramifications for individual behavior and policy-making in
Nepal.
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