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    Do the sunk cost effect and cognitive dissonance increase risk perception? An empirical study in the context of city smog

    Access Status
    Fulltext not available
    Authors
    Qi, W.
    Guo, Xiumei
    Wu, X.
    Marinova, Dora
    Fan, J.
    Date
    2017
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Qi, W. and Guo, X. and Wu, X. and Marinova, D. and Fan, J. 2017. Do the sunk cost effect and cognitive dissonance increase risk perception? An empirical study in the context of city smog. Quality and Quantity: International Journal of Methodology. 52 (5): pp. 2269-2289.
    Source Title
    Quality and Quantity: International Journal of Methodology
    DOI
    10.1007/s11135-017-0662-9
    ISSN
    0033-5177
    School
    Sustainability Policy Institute
    URI
    http://hdl.handle.net/20.500.11937/59515
    Collection
    • Curtin Research Publications
    Abstract

    City smog is an increasingly severe environmental hazard in China. People are eager for ways to protect themselves from city smog. By utilizing two laboratory experiments based on real context of city smog, this paper investigates the impacts of sunk cost and cognitive dissonance on individuals’ risk perception of city smog. In Experiment 1, the results show that the risk perception of individuals with a sunk cost is significantly higher than those without. Moreover, cognitive dissonance has a significant influence on risk perception. In Experiment 2, the results suggest that: (1) the risk perception of a consumer with a prevention focus is significantly greater than that of those with a promotion focus; (2) the risk perception of a prevention-oriented consumer with no sunk cost is similar to that of a promotion-oriented consumer with sunk cost. The study concludes with policy implications.

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