scholarly journals When Action-Inaction Framing Leads to Higher Escalation of Commitment: A New Inaction-Effect Perspective on the Sunk-Cost Fallacy

2018 ◽  
Vol 29 (4) ◽  
pp. 537-548 ◽  
Author(s):  
Gilad Feldman ◽  
Kin Fai Ellick Wong
Keyword(s):  
Confidence Interval ◽  
Negative Feedback ◽  
Meta Analysis ◽  
Sunk Costs ◽  
Escalation Of Commitment ◽  
Sunk Cost ◽  
Course Of Action ◽  
New Perspective ◽  
The Impact

Escalation of commitment to a failing course of action occurs in the presence of (a) sunk costs, (b) negative feedback that things are deviating from expectations, and (c) a decision between escalation and de-escalation. Most of the literature to date has focused on sunk costs, yet we offer a new perspective on the classic escalation-of-commitment phenomenon by focusing on the impact of negative feedback. On the basis of the inaction-effect bias, we theorized that negative feedback results in the tendency to take action, regardless of what that action may be. In four experiments, we demonstrated that people facing escalation-decision situations were indeed action oriented and that framing escalation as action and de-escalation as inaction resulted in a stronger tendency to escalate than framing de-escalation as action and escalation as inaction (mini-meta-analysis effect d = 0.37, 95% confidence interval = [0.21, 0.53]).

scholarly journals Mindfulness and decision-making: Sunk-costs or escalation of commitment?

2018 ◽  
Author(s):  
Neil Schmitzer-Torbert
Keyword(s):  
Decision Making ◽  
Sunk Costs ◽  
Escalation Of Commitment ◽  
Trait Mindfulness ◽  
Sunk Cost ◽  
Positive Health ◽  
Course Of Action ◽  
Cognitive Benefits ◽  
Positive Health Outcomes ◽  
The Relationship

Mindfulness is related to a number of positive health outcomes, such as decreased stress, anxiety and improved physical functioning. Recent studies have also identified a range cognitive benefits of mindfulness, including recent studies demonstrating that higher trait mindfulness and brief mindfulness inductions are associated with improved decision-making, and specifically to resistance to the influence of sunk-costs, where higher mindfulness is associated with increased willingness to discontinue a costly, but disadvantageous, course of action. However, some previous studies examining mindfulness and the sunk-cost bias have methodological limitations which make it difficult to determine if mindfulness is specifically related to sensitivity to the sunk-cost bias, or rather than to a general willingness to continue an unprofitable course of action (independent of the level of prior investment). The present study extends previous work by replicating the finding that trait mindfulness is positively related to resistance to the effects of sunk-costs, and also demonstrates that mindfulness is related to reduced escalation of commitment, an individual’s willingness to continue their commitment to a unprofitable course of action through the further investment of resources or time. Overall, trait mindfulness was most consistently related to reduced escalation of commitment, whereas the relationship between trait mindfulness and resistance to the effects of sunk-costs were less consistently observed

The influence of sunk costs, personal responsibility and culture on the tendency of accountants to facilitate escalation of commitment

2014 ◽  
Vol 26 (3) ◽  
pp. 374-391 ◽  
Author(s):  
Peni Fukofuka ◽  
Neil Fargher ◽  
Zhe Wang
Keyword(s):  
Decision Making ◽  
Developing Economies ◽  
Personal Responsibility ◽  
Sunk Costs ◽  
Escalation Of Commitment ◽  
Sunk Cost ◽  
Content Type ◽  
Supportive Role ◽  
The Impact

Purpose – This purpose of this study is to further the study of escalation of commitment by considering the supportive role of accountants in providing reports that favour continuation of unprofitable projects and whether this role is influenced by culture. Research on the escalation of commitment suggests that the decision to commit resources to a failing project is due to several factors that include sunk costs, personal responsibility and culture. Design/methodology/approach – This study employs a between-subjects design to examine accountants’ willingness to provide a report that facilitates continuation of an unprofitable project. The manipulated independent variables are sunk cost (present or absent), the level of reporting responsibility (high or low) and culture (Pacific Islands or Australia). Findings – Our results show that the presence of sunk cost is a motivation for accountants to provide reports that favour continuation of an unprofitable project. The results on cultural difference are also consistent with the contention that culture is influential in decision-making with respect to providing reports that favour continuation of an unprofitable project. We do not, however, find evidence consistent with a personal responsibility affect using the manipulation defined in this study. Research limitations/implications – Consistent with this type of research, the results must be interpreted with respect to the specific design choices used in the experiment. Practical implications – Continued research is needed to examine the impact of sunk costs and specific attributes of culture, such as the willingness to follow superiors, on the escalation of commitment to unprofitable projects. The mitigation of such effects through education of accountants to provide reports that do not favour continuation of unprofitable projects would, for example, be of interest to aid agencies and others investing in projects in developing economies in particular. Originality/value – While previous research generally examines the decision-making role of managers in escalation of commitment to unprofitable projects, this study examines the supportive role that accountants play in facilitating managers’ escalation decisions. This issue is studied within a context examining the potential cultural impact of respect for authority.

Losing Face and Sinking Costs

2017 ◽  
Author(s):  
Jonathan Renshon
Keyword(s):  
Social Dominance ◽  
Regression Models ◽  
Investment Decision ◽  
Social Dominance Orientation ◽  
Sunk Costs ◽  
Behavioral Measure ◽  
Decision Task ◽  
Escalation Of Commitment ◽  
Course Of Action

This chapter explores the behavioral microfoundations of status dissatisfaction theory by conducting two simultaneously fielded experiments in which status concerns were randomly assigned prior to an “escalation of commitment” task. The first study replicates and extends a sunk costs experiment that asks subjects to make a hypothetical investment decision, while the second introduces the “Island Game” to provide a behavioral measure of escalation of commitment. Several regression models are estimated to determine how leadership affects the tendency to escalate in the primary decision task. The chapter also considers additional mechanisms that link status concerns to war through individuals' willingness to escalate their commitment to a failing course of action, including power and social dominance orientation (SDO). The results show that subjects with stronger preferences for hierarchy—that is, high in SDO—are most affected by status concerns and correspondingly more likely to exhibit patterns of biased escalation.

scholarly journals Clinical determinants associated with quality of life for people who live with HIV/AIDS: a Meta-analysis

2019 ◽  
Vol 19 (1) ◽  
Author(s):  
Hesam Ghiasvand ◽  
Katherine M. Waye ◽  
Mehdi Noroozi ◽  
Gholamreza Ghaedamini Harouni ◽  
Bahram Armoon ◽  
...  
Keyword(s):  
Quality Of Life ◽  
Confidence Interval ◽  
Effect Size ◽  
Meta Analysis ◽  
Random Effect Model ◽  
Cd4 Count ◽  
Co Morbidity ◽  
The Impact ◽  
Hiv Aids

Abstract Background During recent years, Quality of Life (QoL) is a significant assessment factor in clinical trials and epidemiological researches due to the advent of Antiretroviral Therapy (ART), Human Immunodeficiency Virus (HIV) has become a manageable,chronic disease. With regards, more attention must be paid to the QoL of infected patients. Limited evidence exists on the impact of ART on QoL among HIV infected patients. Due to lacking of a systematic approach to summarizing the available evidence on the clinical determinants of People Who Live with HIV/AIDS (PWLHs’) QoL, this study aimed to analyze the impact of clinical determinants (ART experience, CD4 count < 200, co-morbidities, time diagnosis and accessibility to cares) on QoL among PWLHs’. Methods This study was designed in accordance with Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA). PubMed, Science Direct, Web of Science, and Cochrane electronic databases were searched in February 2017 to identify all past studies that discussed social and behavioral characteristics of QoL in PLWHA. To recognize effective factors on social and behavioral QoL, a meta-analysis was conducted. Polled Odds Ratios (ORs) were utilized at a 95% confidence level. Since sampling methods differed between articles in the systematic review, we evaluated pooled estimates using a random effect model. Metan, metareg, metacum, and metabias commands in STATA version 13.0 were applied to analyze the data. Results Our findings indicated that ART has a positive impact on QoL, with a pooled effect size at approximately 1.04 with a confidence interval between 0.42 to 1.66 which indicates this impact is not very considerable and may be relatively neutral. The pooled effect size for CD4 count on QoL was .29 (95%CI = .22–.35), indicating that there is a negative associate between CD4 count and QoL. The co-morbidity as a negative determinant for QoL among HIV/AIDS infected people. The pooled effect size implies on a relative neutral association, although the confidence interval is wide and ranges between 0.32 to 1.58. The pooled effect size is about 1.82 with confidence interval 1.27 to 2.37 which indicates a considerable positive association with lowest level of heterogeneity. Conclusions The results illustrated that time diagnosing and availability to hospital services had significant relationship with a higher QoL and CD4 < 200 was associated with a lower QoL. In conclusion, policy makers should set an agenda setting to provide a suitable diagnostic and therapeutic facilities to early detecting and continues monitoring the health status of People Who Live with HIV/AIDS (PWLHs’).

scholarly journals Systematic review and meta-analysis of clinical outcomes of COVID-19 patients undergoing gastrointestinal endoscopy

2021 ◽  
Vol 14 ◽  
pp. 175628482110421
Author(s):  
Xiangzhou Tan ◽  
Jianping Guo ◽  
Zihua Chen ◽  
Alfred Königsrainer ◽  
Dörte Wichmann
Keyword(s):  
Systematic Review ◽  
Confidence Interval ◽  
Personal Protective Equipment ◽  
Gastrointestinal Endoscopy ◽  
Meta Analysis ◽  
Case Fatality ◽  
Cochrane Library ◽  
Protective Equipment ◽  
Procedural Success ◽  
The Impact

Background: The impact of gastrointestinal endoscopy on COVID-19 infection remains poorly investigated. We herein performed a systematic review and meta-analysis to evaluate the outcomes of COVID-19 in patients undergoing gastrointestinal endoscopy. Method: Ovid Medline, Ovid EMBASE, Ovid the Cochrane Library, and other electronic databases were searched until 30 November 2020 to identify publications with confirmed COVID-19 infection in patients undergoing gastrointestinal endoscopy. The primary outcomes were SARS-CoV-2 transmission, personal protective equipment use, rates of case fatality, complications, and procedural success. Results: A total of 18 articles involving 329 patients were included in this systematic review and meta-analysis. The overall basic reproduction rate is 0.37, while the subgroup results from Asia, Europe, and North America are 0.13, 0.44, and 0.33, respectively. The differences in personal protective equipment use between the positive transmission and non-transmission group are mainly in isolation gowns, N95 or equivalent masks, and goggles or face-shields. The rate of case fatality, complication, and procedural success are 0.17 (95% confidence interval = 0.02–0.38), 0.00 (95% confidence interval = 0.00–0.02), and 0.89 (95% confidence interval = 0.50–1.00), respectively. The fatality rate in Europe was the highest (0.23, 95% confidence interval = 0.04–0.50), which is significantly different from other continents ( p = 0.034). Conclusion: The risk of SARS-CoV-2 transmission within gastrointestinal endoscopy units is considerably low if proper use of personal protective equipment is applied. Similarly, a low fatality and complication rate, as well as a high procedural success rate, indicated that a full recovery of endoscopic units should be considered.

A Method for Meta-Analysis of Epidemiological Studies

1988 ◽  
Vol 22 (10) ◽  
pp. 813-824 ◽  
Author(s):  
Thomas R. Einarson ◽  
J. Steven Leeder ◽  
Gideon Koren
Keyword(s):  
Confidence Interval ◽  
Odds Ratio ◽  
Meta Analysis ◽  
A Priori ◽  
Epidemiological Studies ◽  
Percent Confidence Interval ◽  
Case Control Studies ◽  
Chi Square ◽  
The Impact ◽  
Summary Odds Ratio

This article presents a stepwise approach for conducting a meta-analysis of epidemiological studies based on proposed guidelines. This systematic method is recommended for practitioners evaluating epidemiological studies in the literature to arrive at an overall quantitative estimate of the impact of a treatment. Bendectin is used as an illustrative example. Meta-analysts should establish a priori the purpose of the analysis and a complete protocol. This protocol should be adhered to, and all steps performed should be recorded in detail. To aid in developing such a protocol, we present methods the researcher can use to perform each of 22 steps in six major areas. The illustrative meta-analysis confirmed previous traditional narrative literature reviews that Bendectin is not related to teratogenic outcomes in humans. The overall summary odds ratio was 1.01 (χ2 = 0.05, p = 0.815) with a 95 percent confidence interval of 0.66–1.55. When the studies were separated according to study type, the summary odds ratio for cohort studies was 0.95 with a 95 percent confidence interval of 0.62–1.45. For case-control studies, the summary odds ratio was 1.27 with a 95 percent confidence interval of 0.83–1.94. The corresponding chi-square values were not statistically significant at the p = 0.05 level.

scholarly journals The impact of atrial fibrillation type on the risks of thromboembolic recurrence, mortality and major haemorrhage in patients with previous stroke: A systematic review and meta-analysis of observational studies

2020 ◽  
Vol 5 (2) ◽  
pp. 155-168
Author(s):  
Antonia Mentel ◽  
Terence J Quinn ◽  
Alan C Cameron ◽  
Kennedy R Lees ◽  
Azmil H Abdul-Rahim
Keyword(s):  
Atrial Fibrillation ◽  
Systematic Review ◽  
Confidence Interval ◽  
Odds Ratio ◽  
Observational Studies ◽  
Meta Analysis ◽  
Major Haemorrhage ◽  
Risk Of Bias ◽  
Previous Stroke ◽  
The Impact

Introduction There is conflicting evidence on the impact of atrial fibrillation (AF) type, i.e. non-paroxysmal AF or paroxysmal AF, on thromboembolic recurrence. The consensus of risk equivalence is greatly based on historical evidence, focussing on initial stroke risks. We conducted a systematic review and meta-analysis to describe the impact of AF type on the risk of thromboembolic recurrence, mortality and major haemorrhage in patients with previous stroke. Methods We systematically searched four multidisciplinary databases from inception to December 2018. We selected observational studies investigating clinical outcomes in patients with ischaemic stroke and AF, stratified by AF type. We assessed all included studies for risk of bias using the ‘Risk of Bias In Non-randomised Studies – of Exposures’ tool. The Comprehensive Meta-Analysis Software was used to calculate odds ratios from crude event rates. Results After reviewing 14,127 citations, we selected 108 studies for full-text screening. We extracted data from a total of 26 studies, reporting outcomes on 23,054 patients. Overall, risk of bias was moderate. The annual incidence rates of thromboembolism in patients with non-paroxysmal AF and paroxysmal AF were 7.1% (95% confidence interval: 4.2–11.7) and 5.2% (95% confidence interval: 3.2–8.2), respectively. The odds ratio for thromboembolism in patients with non-paroxysmal AF versus paroxysmal AF was 1.47 (95% confidence interval: 1.08–1.99, p = 0.013). The annual mortality rates in patients with non-paroxysmal AF and paroxysmal AF were 20.0% (95% confidence interval: 13.2–28.0) and 10.1% (95% confidence interval: 5.4–17.3), respectively, and odds ratio was 1.90 (95% confidence interval: 1.43–2.52, p < 0.001). There was no difference in rates of major haemorrhage, odds ratio  = 1.01 (95% confidence interval: 0.61–1.69, p = 0.966). Conclusion In patients with prior stroke, non-paroxysmal AF is associated with significantly higher risk of thromboembolic recurrence and mortality than paroxysmal AF. Although current guidelines make no distinction between non-paroxysmal AF and paroxysmal AF for secondary stroke prevention, future guidance and risk stratification tools may need to consider this differential risk (PROSPERO ID: CRD42019118531).

scholarly journals Evidence on Physical Activity and the Prevention of Frailty and Sarcopenia Among Older People: A Systematic Review to Inform the World Health Organization Physical Activity Guidelines

2020 ◽  
Vol 17 (12) ◽  
pp. 1247-1258 ◽  
Author(s):  
Juliana S. Oliveira ◽  
Marina B. Pinheiro ◽  
Nicola Fairhall ◽  
Sarah Walsh ◽  
Tristan Chesterfield Franks ◽  
...  
Keyword(s):  
Physical Activity ◽  
Confidence Interval ◽  
Observational Studies ◽  
Meta Analysis ◽  
Conclusive Evidence ◽  
Adverse Outcomes ◽  
World Health ◽  
Preventive Strategy ◽  
Age Related ◽  
The Impact

Background: Frailty and sarcopenia are common age-related conditions associated with adverse outcomes. Physical activity has been identified as a potential preventive strategy for both frailty and sarcopenia. The authors aimed to investigate the association between physical activity and prevention of frailty and sarcopenia in people aged 65 years and older. Methods: The authors searched for systematic reviews (January 2008 to November 2019) and individual studies (January 2010 to March 2020) in PubMed. Eligible studies were randomized controlled trials and longitudinal studies that investigated the effect of physical activity on frailty and/or sarcopenia in people aged 65 years and older. The Grading of Recommendations Assessment, Development and Evaluation approach was used to rate certainty of evidence. Results: Meta-analysis showed that physical activity probably prevents frailty (4 studies; frailty score pooled standardized mean difference, 0.24; 95% confidence interval, 0.04–0.43; P = .017, I2 = 57%, moderate certainty evidence). Only one trial investigated physical activity for sarcopenia prevention and did not provide conclusive evidence (risk ratio 1.08; 95% confidence interval, 0.10–12.19). Five observational studies showed positive associations between physical activity and frailty or sarcopenia prevention. Conclusions: Physical activity probably prevents frailty among people aged 65 years and older. The impact of physical activity on the prevention of sarcopenia remains unknown, but observational studies indicate the preventive role of physical activity.

scholarly journals Escalation of Commitment: Supporting Role from Accountants

2021 ◽  
Vol 4 (2) ◽  
pp. 87
Author(s):  
Agil Novriansa ◽  
Ahmad Subeki ◽  
Aryanto Aryanto
Keyword(s):  
Decision Making ◽  
Undergraduate Students ◽  
Investment Decision ◽  
Investment Project ◽  
Capital Budgeting ◽  
Sunk Costs ◽  
Financial Accounting ◽  
Escalation Of Commitment ◽  
Sunk Cost ◽  
Investment Decision Making

Previous research has mostly examined the phenomenon of escalation of commitment in the context of decision making by managers in an investment project. However, in the capital budgeting process, before making investment decisions managers tend to consider information produced by accountants. This study examines the phenomenon of escalation of commitment using the perspective of supporting role of accountants as the party that provides information for investment decision making by managers, especially in the presence of sunk costs. This study uses a laboratory experimental method. The sample in this study are 156 undergraduate students majoring in Accounting who had passed Financial Accounting and Management Accounting courses. Based on the results of the independent sample t-test, it shows that accountants who experienced sunk cost conditions tend to provide reports that directed managers towards escalation of commitment behavior compared to accountants who do not experience sunk cost conditions. The presence of sunk cost makes accountants have better mind frame to get the possibility of profit compared with a definite loss so that the decisions they make tend to provide reports that lead to the escalation of commitment behavior.

Sign in / Sign up

Export Citation Format

Share Document