Joe Pre-Orders a Non-Refundable Movie Ticket

question 56

Multiple Choice

Joe pre-orders a non-refundable movie ticket. He then reads a number of reviews of the movie in question that make him realize that he will not enjoy it. He goes to see it anyway, rationalizing that otherwise his money will have been wasted. Is Joe succumbing to the Sunk Cost Fallacy, and why?

• A) Yes, since he invested a valuable asset, his time, in a project based on its previous costs.
• B) No, because the cost of the movie was not recoverable and would have been lost whatever action he took.
• C) No, because going to see the movie means that the product of his initial investment was realized as originally planned.
• D) Yes, because he incurred no further costs by going to see the movie.

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Definitions:

Cathexis

An investment of psychic energy in an object or person.

Major Themes

The primary or central subjects, ideas, or concepts around which a piece of work, discussion, or thought is based or revolves.

Death

The permanent cessation of all biological functions that sustain a living organism, marking the end of its life.

Aggression

A range of behaviors that can result in both physical and psychological harm to oneself, others, or objects in the environment.