3 ms·
Isn't loss aversion more relevant to this? You already paid for all this, so you would "lose money" by not eating more.
by diffeomorphism 7y ago
Isn't loss aversion more relevant to this? You already paid for all this, so you would "lose money" by not eating more.
- lonelappde 7y agoYou mean sunk cost? Loss aversion from the buffet would depend on how much food is available, not how much you paid.
- diffeomorphism 7y agoSunk cost fits better. I think loss aversion is however also not a bad fit: https://en.wikipedia.org/wiki/Sunk_cost#Loss_aversion https://en.wikipedia.org/wiki/Sunk_cost#Loss_aversion One is: I already paid, therefore I should eat. The other is: I paid for infinity, therefore I should eat more.