The best way to conference proceedings by Francis Academic Press

Web of Proceedings - Francis Academic Press
Web of Proceedings - Francis Academic Press

Study on Behavioral Decision-making Based on Sunk Costs in Travel

Download as PDF

DOI: 10.25236/busem.2018.031


Wang Li, Xu Mengdie, Liu Cheng

Corresponding Author

Xu Mengdie


As one of the most common decision-deviations in the traveler's decision-making process, the travel sunk costs effect is the irrational consumer decision-making phenomenon that travelers faced when they are affected by sunk costs. This paper examines the manifestation of sunk costs effect in travel, and then focuses on how the impact of the sunk costs effect travelers' subsequent consumption decisions, this paper also analyzes different attitudes and decision-making differences of different types of travelers on sunk costs. The pattern of behavior is divided into three categories, balanced, positive, and conservative, and the differences in the choices of respondents with different degrees, incomes, and occupations in the face of sunk costs are studied. Finally, it is pointed out that the future research should focus on the impact of sunk costs on travelers' consumption decision-feedback mechanisms, and the positive effect of sunk cost effects on travelers.


Travel, Sunk costs, Behavioral decision.