It too found no effect by age, nor any effect by gifted/poor group (pg 10). On the sunk-cost question, the sunk cost response was a (large) minority. I wonder whether the adults who answered that question original (in Arkes & Blumer) were more or less prone to sunk cost than the children?
Interesting, sunk cost bias does not vary with intelligence?
http://web.mac.com/kstanovich/Site/Research_on_Reasoning_files/JPSP08.pdf (pg 7-8)
http://sds.hss.cmu.edu/media/pdfs/fischhoff/Parker_FischhoffDMC.pdf (pg 13)
One study cited in the above is a small study of 21 ‘gifted’ children and 82 poor children:
http://www.sas.upenn.edu/~baron/papers/kdm.pdf
It too found no effect by age, nor any effect by gifted/poor group (pg 10). On the sunk-cost question, the sunk cost response was a (large) minority. I wonder whether the adults who answered that question original (in Arkes & Blumer) were more or less prone to sunk cost than the children?