The mental accounting of sunk time costs: Why time is not like money.

By Dilip Soman. 2001

331 citations recorded by the source corpus.

Subfields: Accounting, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/df2a221d8ccc204388f824255c1230efbaeed962

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Citations in the corpus

Creating and capturing value from freemium business models: A demand-side perspective (2018, background): “It has been suggested that the reason for this ‘pseudo-rationality’ is that consumers lack the ability to mentally account for time in the same way they do for money (Soman, 2001).”
A Generalizable Scale of Propensity to Plan: The Long and the Short of Planning for Time and for Money (2010, background): “…resources (Leclerc, Schmitt, and Dubé 1995; Liu and Aaker 2008; Mogilner and Aaker 2009; Okada and Hoch 2004; Saini and Monga 2008; Soman 2001; Spiller and Lynch 2009; Zauberman and Lynch 2005), so it is not obvious whether individual differences in propensity to plan for time will extend to…”
CLEANING UP THE BIG MUDDY: A META-ANALYTIC REVIEW OF THE DETERMINANTS OF ESCALATION OF COMMITMENT (2012, background): “(b) Time investment entraps decision makers, as they do not want to admit their time investment has been a waste; although such investments may sometimes need to be put in monetary terms to make them salient (Soman, 2001).”
It’s About Time: New Perspectives and Insights on Time Management (2017, background): “For instance, we should not assume that time management training is necessarily beneficial because it can foster decisionmaking biases—such as the sunk-cost effect (Soman, 2001)—that ultimately undermine time management outcomes.”
Affordable loss: behavioral economic aspects of the plunge decision (2009, background): “…levels leading to the plunge decision has to do with the effects of accounting in different units, i.e., time versus money (Okada and Hoch, 2004; Soman, 2002).8 Because fi nancial losses are painful, Thaler (1999: 188) states that ‘we should expect to see that some of the discretion inherent in…”
When time is money: The effect of hourly payment on the evaluation of time (2007, methodology): “Recall that Soman (2001) found that people endorsed the statements of the mental accounting model more for money than for time.”
How Construals of Money versus Time Impact Consumer Charitable Giving (2015, background): “For example, individuals do not account for time as effectively as they account for money (Soman 2001), are more likely to exhibit the planning fallacy with respect to time as opposed to money (Spiller and Lynch 2010), feel less accountable for how they spend their time (Leclerc et al. 1995), and…”
Spending Time versus Spending Money (2004, background): “Note that these results cannot be explained by a cognitive dissonance story since the need for dissonance reduction should be greater after spending money (Soman 2001).”
The Fresh Start Effect: Temporal Landmarks Motivate Aspirational Behavior (2014, neutral): “Although this previous research has shown that time is not treated as continuous and fungible (Rajagopal and Rha 2009, Soman 2001), many implications of the nonlinear way in which we experience time have not yet been explored.”