It's no longer “me”: Low past-self-continuity reduces the sunk-cost bias

The sunk-cost bias describes the tendency to continue an inferior course of action because one has invested significant, irrecoverable resources in it in the past. It can lead individuals to make decisions that are suboptimal for their welfare. Across five experiments (N = 3197), we investigate whether the tendency of individuals to display sunk-cost bias is influenced by their sense of psychological connectedness to their past self that...