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Money Investments In Decision-Making: Findings Lab Report

It is also possible that the specific creation and presentation of the scenarios included in the instrument had some level of influence on the results, as there are other considerations that are at play in each of the scenarios -- most importantly, the additional time required to change the course of action, which is distinct and wholly separate from the sunk-costs associated with the original course of action -- and this combined with the other design issues noted above and the lack of strong and clear determinations of mean differences means that the results of this research are ultimately inconclusive. Conclusion

Undertaking this research could help shed light on how decisions are made, how time is perceived, and even on the real value of time to different people with varying psychological tendencies. The development of more careful and specific instruments will be necessary to accomplish this.
References

Soman, D. (2001). The Mental Accounting of Sunk Time Costs: Why Time is not Like

Money. Journal of Behavioral Decision Making 14(3): 169-85.

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References

Soman, D. (2001). The Mental Accounting of Sunk Time Costs: Why Time is not Like

Money. Journal of Behavioral Decision Making 14(3): 169-85.
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