IDEAS home Printed from https://ideas.repec.org/h/pal/qpochp/978-3-319-32711-2_2.html
   My bibliography  Save this book chapter

Mental Accounting, Emotional Hierarchies, and Behavioral Heuristics

In: Finance and the Behavioral Prospect

Author

Listed:
  • James Ming Chen

    (Michigan State University)

Abstract

If there is one fixed star in the firmament of economic science, it is the principle that sunk costs are just that, sunk.1 Vorbei ist vorbei; reden wir nicht mehr davon. 2 Or in the words of plain English taught to generations of American college students: “One of the most important lessons of economics is that you should look at the marginal costs and marginal benefits of decisions and ignore past or sunk costs.”3

Suggested Citation

  • James Ming Chen, 2016. "Mental Accounting, Emotional Hierarchies, and Behavioral Heuristics," Quantitative Perspectives on Behavioral Economics and Finance, in: Finance and the Behavioral Prospect, chapter 0, pages 29-56, Palgrave Macmillan.
    • Handle: RePEc:pal:qpochp:978-3-319-32711-2_2
    DOI: 10.1007/978-3-319-32711-2_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:qpochp:978-3-319-32711-2_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.