You have just spent 10 minutes trying to figure out the answer to a single problem on your math quiz.In spite of your lack of success,you continue to struggle,neglecting to continue on to other problems because you've already invested so much time and effort in this problem.You have fallen victim to ______.
A)the sunk cost effect
B)a framing effect
C)the anchor effect
D)availability bias

Question

Quizplus · Accepted Answer

The sunk cost effect describes the phenomenon where individuals continue a behavior or endeavor as a result of previously invested resources (time, money, or effort), even if they're not achieving the desired outcome. In this scenario, continuing to work on the problem despite not making progress, because of the time already spent, is a classic example of the sunk cost effect.

You Have Just Spent 10 Minutes Trying to Figure Out