Research paper
Arkes HR, Blumer C. The psychology of sunk cost. Organizational Behavior and Human Decision Processes. 1985;35(1):124-140. doi:10.1016/0749-5978(85)90049-4.
Why we cite it
The foundational empirical paper on the sunk cost effect, presenting 10 experiments (field and questionnaire) demonstrating that people irrationally continue investments because of prior costs rather than future benefits. The theater season ticket field experiment is particularly notable for demonstrating the effect with real money in natural behavior. For this project, the sunk cost effect explains why people eat unhealthy food “because you already paid for it” — classic sunk cost thinking that the “kitchen purge” companion addresses. Approximately 4,600 Google Scholar citations; Arkes’ most-cited paper. Referenced in companion 422.