I’m Gavin Cosgrave, a first-year business major at Santa Clara University. I am interested in the intersection between design, business and psychology, and I tried to merge these interests in my research project. I completed this project as a part of my honors English class, which studied research methodologies and writing genres.
My research was inspired by the book Thinking Fast and Slow by Daniel Kahneman. Thinking Fast and Slow presents evidence for several fascinating mental models and shortcuts, including a large focus on loss aversion and a brief introduction to the sunk cost fallacy.
Feel free to reach out to me with any comments, questions, book recommendations or anything else. Thanks for reading!
About the project
Here's a full list of my references. In case you missed it, they were also available through clicking these little buttons:
Kahneman, D. (2015). Thinking, Fast and Slow. New York: Farrar, Straus and Giroux.
Arkes, H. R., & Blumer, C. (1985). The Psychology of Sunk Cost. Organizational Behavior and Human Decision Processes,35, 124-140.
Thaler, R. (1980). Toward a Positive Theory of Consumer Choice. Journal of Economic Behavior and Organization, 39-60.
Kelley, T. (2004). Sunk Costs, Rationality, and Acting for the Sake of the Past Nous, 85(60)
Bruchmann, Katheryn. “The Sunk Cost Fallacy” Personal Interview. 5/9/17
Household Income in the United States, US Census Data. (2017, April 28). Retrieved June 10, 2017, from
A Dozen Facts about America's Struggling Lower-Middle Class. (2013, December 2). Retrieved June 10, 2017, from
Bruine de Bruin, W., Strough, J., & Parker, A. M. (2014). Getting Older Isn’t All That Bad: Better Decisions and Coping When Facing “Sunk Costs”. Psychology and Aging,29(3), 642-647.
Hafenbrack, A., Kinias, Z., & Barsade, S. (2013). Debiasing the Mind through Meditation: Mindfulness and the Sunk Cost Bias. Psychological Science, 25(2), 369-376.