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6 September, 06:44

After rachene bought a magazine subscription, she does not enjoy the articles in the magazine. however, she dutifully reads the entire magazine every month because she had already paid for the subscription, and she feels the money will be wasted if she does not read it. what psychological factor associated with behavioral economics explains rachene's behavior?

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  1. 6 September, 07:23
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    A sunk cost fallacy is the psychological factor associated with behavioral economics explains Rachene's behavior. It is a result of previously invested resources like money, time or effort. In the given situation Rachene paid magazine subscription as her invested resources and she repeatedly or still keeps reading every month even if she doesn’t enjoy it because she feels that what she invested will just go to waste if she won’t read it.
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