No abstract

This document is copyrighted by the American Psychological Association or one of its allied publishers.This article is intended solely for the personal use of the individual user and is not to be disseminated broadly.

The sunk cost effect is a maladaptive economic behavior that is manifested in a greater tendency to continue an endeavor once an investment in money, effort, or time has been made. The Concorde fallacy is another name for the sunk cost effect, except that the former term has been applied strictly to lower animals, whereas the latter has been applied solely to humans. The authors contend that there are no unambiguous instances of the Concorde fallacy in lower animals and also present evidence that young children, when placed in an economic situation akin to a sunk cost one, exhibit more normatively correct behavior than do adults. These findings pose an enigma: Why do adult humans commit an error contrary to the normative cost-benefit rules of choice, whereas children and phylogenetically humble organisms do not? The authors attempt to show that this paradoxical state of affairs is due to humans' overgeneralization of the "Don't waste" rule.

Measures of implicit prejudice are based on associations between race-related stimuli and valenced words. Reaction time (RT) data have been characterized as showing implicit prejudice when White names or faces are associated with positive concepts and African-American names or faces with negative concepts, compared to the reverse pairings. We offer three objections to the inferential leap from the comparative RT of different associations to the attribution of implicit prejudice: (a) The data may reflect shared cultural stereotypes rather than personal animus, (b) the affective negativity attributed to participants may be due to cognitions and emotions that are not neces sarily prejudiced, and (c) the patterns of judgment deemed to be indicative of prejudice pass tests deemed to be diagnostic of rational behavior.

No abstract