Evidence for Opportunity Cost Neglect in the Poor.
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ABSTRACT:
SUBMITTER: Plantinga A
PROVIDER: S-EPMC5763356 | biostudies-literature | 2018 Jan
REPOSITORIES: biostudies-literature
Publications
Evidence for Opportunity Cost Neglect in the Poor.
Plantinga Arnoud A Krijnen Job M T JMT Zeelenberg Marcel M Breugelmans Seger M SM
Journal of behavioral decision making 20170911 1
People often neglect opportunity costs: They do not fully take into account forgone alternatives outside of a particular choice set. Several scholars have suggested that poor people should be more likely to spontaneously consider opportunity costs, because budget constraints should lead to an increased focus on trade-offs. We did not find support for this hypothesis in five high-powered experiments (total N = 2325). The experiments used different products (both material and experiential) with bo ...[more]
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