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:

Unconditional Positive Regard

Approval granted regardless of a person’s behavior. In Rogers’s person-centered therapy, the therapist offers the client unconditional positive regard.

Organismic Valuing Process

A concept in psychology suggesting that individuals naturally move towards growth and fulfillment, guided by their own intrinsic values.

Unconditional Positive Regard

A concept in client-centered therapy involving total acceptance and support of a person regardless of their behavior or feelings.

Conditions of Worth

Refers to the criteria set by external sources, such as parents or society, that individuals believe they must meet to be valued or loved.